Biden Administration Lifts Financial Restrictions on Cuba

SOURCE www.foxnews.com
The Biden administration announced the lifting of some financial restrictions on Cuba, allowing private business owners in Cuba to establish stateside bank accounts. Cuban American lawmakers criticized the move, claiming it helps the Cuban regime rather than the people. The Treasury defended the decision, stating it aims to support the Cuban people and their struggling entrepreneurs.

Key Points

  • The Treasury's revisions aim to help independent businesses and promote internet freedom in Cuba.
  • Cuban American lawmakers lambasted the Biden administration for lifting financial restrictions on Cuba.
  • The Treasury defended the decision, stating it supports struggling entrepreneurs in Cuba.

Pros

  • Supporting independent businesses in Cuba
  • Expanding access to financial services for Cubans
  • Promoting internet freedom in Cuba

Cons

  • Criticism from Cuban American lawmakers
  • Concerns that the move benefits the Cuban regime
  • Lack of progress towards freedom in Cuba