New Cuba Regulations Provide More ‘Wiggle Room’ for U.S. Businesses
The new Cuba regulations released by the Obama administration allow financing of authorized exports to the island and more exceptions to the embargo. Attorney Andy Fernandez has been assisting clients interested in doing business with Cuba and explains that "on the export side, the financing restriction was a big challenge for my clients."
Previous cash-in-advance requirements were of particular issue for those interested in selling to Cuba's private sector. Mr. Fernandez said that the regulations will likely assist in opening up commerce.
"Folks are a little more encouraged now that there are fewer bumps in the road from our side. It’s fair to say this now puts the ball in Cuba’s court."