Kind of, but they can't do any business with a US based company. Many specialized products are only produced by a small handful of companies, and if all (or most) of those are US based, Cuba's SOL. They've also had problems where a supplier was bought out by a US based company, so now they can't buy that product anymore.

There's also the fact that it's far cheaper to ship goods to Cuba from the US then it is to ship goods from Europe or China. This means that even if they can buy some goods, they're often much more expensive then it needs to be.