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ARTICLE · 29 MAY 2024

Cuba Policy Shift: Administration Eases Restrictions On Small Businesses

Diaz Trade Law
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On May 28, 2024, the Biden administration announced new measures easing restrictions on independent small businesses in Cuba.

United StatesInternational Law
Jennifer Diaz
Jennifer Diaz
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On May 28, 2024, the Biden administration announced new measures easing restrictions on independent small businesses in Cuba. The announcement follows a recent decision by the State Department to remove Cuba from the list of countries deemed uncooperative on counterterrorism.

The Administration criticized the Cuban government in the announcement, saying: "We know the Cuban economy is in dire straits amid recurring shortages of fuel, electricity, increasingly even food. It's clear the communist experiment of Cuba has failed, the government is no longer able to provide for its citizens' most basic needs."

The new measures implemented by the Department of Treasury's Office of Foreign Assets Control (OFAC) include four main parts:

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