U.S. Continues to Chip at Embargo by Easing Cuban Travel and Banking Restrictions
The Obama administration is hoping to ease travel and banking restrictions for Cuba with a new set of regulations that could encourage more commerce. The rules allow individuals to travel to the island and permit the use of U.S. dollars in more financial transactions in Cuba.
"At the end of the day these are tweaks and taking chips away from a giant wall," said Andy Fernandez, leader of Holland & Knight’s Cuba Action Team. "And the barriers on the Cuban side still exist."