Obama Announces Major Shift in Cuban Policy

MOSCOW, December 17 (Sputnik) – US President Barack Obama delivered a speech on improving relations between the United States and Cuba, as the White House seeks to normalize full diplomatic relations with Cuba, by opening up an embassy and easing on travel and economic restrictions.

Obama said the US sanctions against Cuba had not been effective, and therefore, it was time for the US to re-establish diplomatic relations with the island nation.

"It [sanctions regime] has had little effect [on Cuba] beyond providing the Cuban government with the rational for restrictions on its people", Obama said.

Obama will engage Congress to lift the embargo on Cuba.

The president said the US would open an embassy in Havana and cooperate with Cuba on areas of mutual interest.

"The United States will reestablish an embassy in Havana and high-ranking official will visit Cuba. Where we can advance shared interests — we will, on issues like health, migration, counterterrorism, drug-trafficking and disaster response," Obama said.

The US will welcome Cuba’s participation at the Summit of the Americas, Obama said.

"This April we are prepared to have Cuba join other nations of the hemisphere at the Summit of the Americas," Obama mentioned during his speech. "But we will insist that civil society joins us so citizens, not just leaders are shaping our future".

The two countries will cooperate on a number of financial matters. US institutions will be allowed to open accounts in Cuba and travelers from the US could use their credit and debit cards in Cuba.

The new policy outlined by Obama will increase amount of remittances that Cubans living in the US could send to their relatives in Cuba. The amount will increase to $2,000 per quarter from just $500, AFP said.