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The cancellation of the renowned Habanos Festival, originally scheduled for late February in Havana, represents a notable financial blow to the Cuban government. The festival, a major event for cigar aficionados worldwide, generates millions of dollars annually, largely thru the traditional auction held during the event. [https://www.reuters.com/world/americas/cuba-cancels-habanos-festival-citing-global-context-2024-02-09/](https://www.reuters.com/world/americas/cuba-cancels-habanos-festival-citing-global-context-2024-02-09/)
Cuba announced the cancellation on February 9, 2024, citing the “complex global context” and logistical difficulties. [https://www.premiumcigar.com/habanos-festival-cancelled-2024/](https://www.premiumcigar.com/habanos-festival-cancelled-2024/) The auction typically features rare and limited-edition cigars, attracting high bids from collectors and driving significant revenue for the state-owned Habanos S.A. company. The 2023 festival generated over $25 million in sales during the auction alone. [https://halfwheel.com/habanos-festival-2023-auction-results/](https://halfwheel.com/habanos-festival-2023-auction-results/)
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