US Treasury drops sanctions on Cuban companies

The U.S. Treasury Department removed several Cuban countries from U.S. blacklist. | Photo: Reuters

The United States Department of the Treasury removed dozens of Cuban companies from a U.S. blacklist of terror supporters and narcotics traffickers on Tuesday.

The Office of Foreign Asset Control removed 45 entities — six individuals, 28 businesses and 11 vessels — from its list of entities and individuals that are banned from doing business in the United States.

Several of the firms are connected to Cuba's tourism industry, including cruise lines and tour operators.

However, more than 200 Cuban entities remain on the sanctions list.

The U.S. Treasury Department did publicly discuss the update, as the U.S. State Department is still considering whether it will remove the Caribbean nation from its list of terrorism-sponsoring countries, which would allow for even more relaxation of sanctions.

The most recent announcement marks ongoing efforts between the two countries to restore diplomatic ties after more than 50 years of blockade by the United States.

Washington does not want the normalizing of relations mixed with the issue of the terrorism blacklist, while Cuba says that relations cannot thaw until that issue is addressed.

Cuba has been on this list since 1982, supposedly for supporting Marxist insurgencies. Cuba, Iran, Sudan, and Syria are identified by the U.S. government as countries with governments that support acts of international terrorism.

Source URL