The United States announced new rules that ease sanctions on Cuba, opening up the country to expanded US travel, trade and financial activities.
The new regulations issued by the Treasury and Commerce Departments, will allow US exports of telecommunications, agricultural and construction equipment, permit expanded travel by Americans to the island an open banking relations, reports Reuters.
"Today's announcement takes us one step closer to replacing out-of-date policies that were not working and puts in place a policy that helps promote political economic freedom for the Cuban people," said the US treasury Secretary Jacob Lew.
US officials reiterated that the new measures meant that while investments in Cuba's limited array of small businesses are permitted, general investment will still be prohibited.
The new regulations issued by the Treasury and Commerce Departments, will allow US exports of telecommunications, agricultural and construction equipment, permit expanded travel by Americans to the island an open banking relations, reports Reuters.
"Today's announcement takes us one step closer to replacing out-of-date policies that were not working and puts in place a policy that helps promote political economic freedom for the Cuban people," said the US treasury Secretary Jacob Lew.
US officials reiterated that the new measures meant that while investments in Cuba's limited array of small businesses are permitted, general investment will still be prohibited.