US Government sources say the White House is drafting sweeping regulations to further weaken the trade embargo on Cuba that would ease restrictions on American companies and make it safer for Americans to travel there. The regulations could be announced as soon as today.
According to a draft of the new rules, seen by Reuters, U.S. companies would be allowed to establish offices in Cuba for the first time in more than half a century. The regulations make it easier for airlines and cruise ships to import parts and technology to improve safety in Cuba, loosen restrictions on software exports, and allow authorised companies to establish subsidiaries with Cuba.
However, they do not authorize private financing of trade nor change current rules on who can travel to Cuba, though it is possible regulations could still be modified by other agencies or updated later in the year.
There was no immediate comment from President Barack Obama's administration. The regulations expand on others Mr. Obama announced in January to ease the 53-year-old embargo of the Communist-ruled island.
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