Dollar Diplomacy: US Banks & Payment Firms May Return to Cuba

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For the countries who brought you the Bay of Pigs and the Cuban Missile Crisis, it is perhaps unsurprising that their relations have been erratic and complicated for the 47 years since the US imposed its trade embargo on Cuba.

 

On April 13, 2009, President Obama issued an executive order lifting restrictions on travel to visit family members in Cuba and removed restrictions on U.S. remittances to those Cuban family members. This order directly affects 1.5 million Cuban Americans who can now freely visit and send remittances to assist their family members still in Cuba.

Published on: April 22, 2009
Author: Mercator Research Team
Alternate Point of Contact: Amy Dunckelmann

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