Sanctions Against Cuba to Be Relieved in Coming Weeks: US Treasury

© Sputnik / Alexey NaumovHavana, Cuba
Havana, Cuba - Sputnik International
Subscribe
A US Treasury spokesperson announced that the sanctions relief for Cuba would be introduced in the coming weeks and would amend the Cuban Assets Control Regulations.

Before the 1959 Revolution, Cuba's economy was closely tied to the US economy. - Sputnik International
US-Cuban Relations in Facts and Details
WASHINGTON, December 17 (Sputnik) — Sanctions relief for Cuba, announced Wednesday by US President Barack Obama, will go into effect in the coming weeks, a Treasury spokesperson told Sputnik News Agency.

"The Office of Foreign Asset Controls will implement the Treasury-specific changes via amendments to its Cuban Assets Control Regulations," the spokesperson said.

The Office of Foreign Asset Controls oversees the financial aspects of sanctions implementation.

Barack Obama announces a series of remarks on improving diplomatic relations between the United States and Cuba. - Sputnik International
Obama Announces Major Shift in Cuban Policy
The Treasury spokesperson also said that the US Department of Commerce would separately implement the remainder of the changes with amendments to its export regulations.

Obama announced Wednesday a decision to normalize diplomatic ties with Cuba after more than five decades of severed relations. The United States will also increase allowable remittance to Cuba, authorize additional exports and imports of certain goods and services, as well as facilitate financial transactions between the two countries.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала