US allowes export credits to Cuba
- Submitted by: Juana
- United States
- Business and Economy
- Politics and Government
- 01 / 27 / 2016
The new regulations announced by the United States towards Cuba allowing the granting of credits and easing travel restrictions by US citizens to the island are positive but do not yet pose a significant change on the US economic, commercial and financial blockade of the island.
The regulations were published Tuesday by the Office of Foreign Assets Control, under the Treasury, and by the Department of Commerce.
Observers say that the US initiatives are positive but not enough and prove that President Obama do have powers to eliminate critical components of the over-fifty-year US´s hostile Cuba policy, though the US Congress is the only entity that can fully lift the blockade.
The package of measures authorizes the granting of credits to Cuba to pay for certain exports-including agricultural products—from the US but at the same time it does not affect the prohibition imposed on the use of the dollar by Cuba in its international transactions.
The regulations expand the possibilities to travel to Cuba by persons who operate or offer shipping or aeronautical services, which is in tune with the recent and preliminary accords between the two countries to resume commercial flights.
However, the measures evidence the main US goal of using new methods to encourage a change in Cuban social and political system, which they were not able to achieve along the past 50 years of hostile and failed policy.
source: www.cibercuba.com
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