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[h=4]Obama administration loosens Cuba rules in advance of historic visit[/h]The new rules go into effect days before President Obama's historic visit to Havana next week.
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President Obama is scheduled to visit Cuba next week, but before the world's attention turns to the island nation, there are two creative ways investors who believe in the country's growth prospects can invest there. Newslook
Refrigerator magnets are displayed for sale in a tourist shop, several showing images of U.S. President Obama, at a market in Havana, Cuba, Monday. President Obama will travel to Cuba on March 20. (AP Photo/Ramon Espinosa) ORG XMIT: XRE103(Photo: Ramon Espinosa, AP)
WASHINGTON<span style="color: Red;">*</span>— The Obama administration announced a new round of measures chipping away at the decades-long sanctions against Cuba Tuesday, encouraging more person-to-person educational travel<span style="color: Red;">*</span>and allowing Cuban nationals to get jobs in the United States or to open U.S. bank accounts.
The new measures come days before President Obama departs for Havana for a historic two-day mission to improve economic ties with the communist nation, even while he also plans to meet with dissidents in an effort to push the regime toward<span style="color: Red;">*</span>democracy.
It's the fifth round of new rules the Obama administration has announced since opening up diplomatic relations with Cuba in 2014,<span style="color: Red;">*</span>allowing educational visits and, later this year,<span style="color: Red;">*</span>direct commercial flights. But the current travel regulations require that educational trips be sponsored by an educational organization.
Under the rules that go into effect Wednesday, educational trips can now be person-to-person — allowing, for example, more efforts to build democratic institutions in Cuba.
USA TODAY
Obama plans to kick-start U.S. business with Cuba on Havana trip next week
Other steps announced by the Treasury, Commerce and State Departments Tuesday include a relaxation of restrictions on shipping to Cuba,<span style="color: Red;">*</span>imports of Cuban software, and consumption of Cuban goods by Americans while in third countries.
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