The series of executive branch moves, taken together, have had the effect of punching a large hole in America's half-century-old embargo, although only Congress has the authority to fully end the 54-year embargo. President Barack Obama announced last month that he would soften the restrictions, and a new set of government regulations took effect today.
Obama argued at the time that "these 50 years have shown that isolation has not worked." The new spirit of cooperation emerged after 18 months of secret talks that culminated in the exchange of imprisoned spies and the release of Alan Gross, a US government contractor who had been imprisoned in Cuba for five years.
Most US travelers still will be required to go on supervised group trips, but now virtually any US company or organization can offer such trips without the paperwork and inspections that discouraged past expansion of travel to Cuba.
Some tour operators, already seeing unprecedented interest in legal travel to Cuba, expect some tourists to simply ignore the restrictions.
American companies also now will be permitted to export telephones, computers and Internet technology, and to send supplies to private Cuban firms. However, Cuban authorities have said nothing about the restrictions they might impose on US products entering a country that has long frustrated foreign investors with bureaucratic obstacles and tapped-out infrastructure.
The US is now "one step closer to replacing out-of-date policies," Treasury Secretary Jacob Lew said yesterday. White House spokesman Josh Earnest said the new rules "immediately enable the American people to provide more resources to empower the Cuban population to become less dependent upon the state-driven economy.
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app