News Content
US issues new rules to open up business with Cuba, easing trade embargo
THE United States has issued regulations easing restrictions on American companies doing business in Cuba and opening up travel to the Communist country, Reuters reports.
The rules affect travel, telecommunications, Internet-based services, business operations and banking, and allow US companies to establish a presence in Cuba. They also eliminate limits on the amount of money that can be sent there.
"A stronger, more open US-Cuba relationship has the potential to create economic opportunities for both Americans and Cubans alike," said US Treasury Secretary Jacob Lew.
"By further easing these sanctions, the United States is helping to support the Cuban people in their effort to achieve the political and economic freedom necessary to build a democratic, prosperous, and stable Cuba," he said.
The action comes as Washington and Havana move toward normal relations between the one-time Cold War foes for the first time in more than half a century, having restored diplomatic ties and reopened embassies earlier this summer.
The rules affect travel, telecommunications, Internet-based services, business operations and banking, and allow US companies to establish a presence in Cuba. They also eliminate limits on the amount of money that can be sent there.
"A stronger, more open US-Cuba relationship has the potential to create economic opportunities for both Americans and Cubans alike," said US Treasury Secretary Jacob Lew.
"By further easing these sanctions, the United States is helping to support the Cuban people in their effort to achieve the political and economic freedom necessary to build a democratic, prosperous, and stable Cuba," he said.
The action comes as Washington and Havana move toward normal relations between the one-time Cold War foes for the first time in more than half a century, having restored diplomatic ties and reopened embassies earlier this summer.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
