President Obama Announces Significant Easing of Sanctions and Export Controls Applicable to Cuba

Through a broad exercise of presidential authority, President Obama announced today sweeping changes to current U.S. policies regarding Cuba, including significant revisions to current economic sanctions and export controls currently restricting trade, travel, and financial transactions with Cuba. The president also announced the initiation of steps toward restoring diplomatic relations with Cuba and formally lifting the trade embargo, which has been codified under federal statutes.

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