The half a century old embargo against Cuba has been
loosened by measures brought by the US President to end years of hostility.This happened yesterday.
The Cuban embargo was inaugurated by a Kennedy
administration executive order in 1960 as a response to the confiscation of
American property in Cuba under the newly installed Castro regime. It
caused economic sanctions, travel restrictions.
In December, President Obama announced that the diplomatic
relations between US and Cuba will be restored. New rules were issued by the
Treasury and Commerce department to allow US exports and permit traveling to
Cuba.
Jacob Lew said “Today’s announcement takes us one step
closer to replacing out of date policies that were not working and puts in
place a policy that helps to promote political ad economic freedom for the
Cuban people”
According to the Commerce secretary, “regulations will
change export policy and authorize the flow of certain goods and services to
Cuba without a license”
The U.S. Congress is not expected to lift any of the
statutory restrictions on trade with and travel to Cuba this year.
But President Barack Obama kept to his commitment last
month to loosen restrictions on dealings with Cuba, with this family visits,
trade and other activities can go on without a special license from the
government.
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