US loosens embargo on Cuba, making investment, travel easier
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THE Obama administration is putting a large dent in the US embargo against Cuba as of today, significantly loosening restrictions on American trade and investment.
The new rules also open up the island to greater American travel and allow US citizens to start bringing home small amounts of Cuban cigars after more than a half-century ban.
The announcement yesterday of new Treasury and Commerce Department regulations are the next step in President Barack Obama’s ambitious goal of re-establishing diplomatic relations with the government of Cuban President Raul Castro, Fidel’s younger brother. They come three days after US officials confirmed the release of 53 political prisoners Cuba had promised to free.
Only Congress can end the five-decade embargo. But the measures give permission for Americans to use credit cards in Cuba and US companies to export telephone, computer and Internet technologies. Investments in some small business are permitted. General tourist travel is still prohibited, but Americans authorized to visit Cuba need no longer apply for special licenses.
Obama vowed to soften the embargo last month and begin restoring diplomatic ties with Havana, saying “these 50 years have shown that isolation has not worked.” The deal was the product of 18 months of secret talks that culminated in the exchange of imprisoned spies and release of Alan Gross, a US government contractor who had been imprisoned in Cuba for five years.
The sudden rapprochement between Cold War foes has divided US lawmakers across party lines and interests. Among Republicans and Democrats in Congress, Cuban-Americans such as Senators Marco Rubio of Florida and Bob Menendez of New Jersey have been particularly vocal in opposition.
But some pro-business types have welcomed the opportunity to open up a new export market in a country so close to American shores. The head of the US Chamber of Commerce, for example, said on Wednesday it was better for the US to sell computers, smartphones and cars to Cuba. Still, the embargo as a whole appears unlikely to fall anytime soon.
Starting today, US companies will be able to export mobile phones, televisions, memory devices, recording devices, computers and software to a country with notoriously poor Internet and telecommunications infrastructure. The goal is to “contribute to the ability of the Cuban people to communicate with people within Cuba, in the United States, and the rest of the world,” according to a Treasury Department fact sheet.
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