Loosens travel

White House loosens travel, trade restrictions on Cuba

By Victoria Guida

The Obama administration is loosening economic and travel restrictions on Cuba ahead of President Barack Obama's landmark trip to Havana next week.

The actions are the most substantive steps the Departments of Treasury and Commerce have taken to implement the normalization that Obama and President Raúl Castro of Cuba announced in December 2014.

New regulations announced by the Commerce and Treasury departments would allow "people to people" travel to Cuba for educational purposes, simplify licensing rules for cargo ships passing through Cuba, expand the entities allowed to maintain a presence on the island to include those involved in humanitarian projects, and allow payments to Cuban nationals to pass through U.S. banks. The regulations are set to take effect Wednesday.

“Today’s amendments build upon President Obama’s historic actions to improve our country's relationship with Cuba and its people" Commerce Secretary Penny Pritzker said in a statement. "These steps not only expand opportunities for economic engagement between the Cuban people and the American business community, but will also improve the lives of millions of Cuba’s citizens.”