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US gives Cuban private business owners access to US online payment systems
The Biden administration is opening up US online payment systems to Cuban private business owners, senior administration officials announced on Tuesday.The change in policy will allow independent private sector entrepreneurs in Cuba to import food, equipment and other goods, the officials explained. It will also make it easier for remittances to be sent to Cuba and help to stem irregular migration from the island, they added.
The administration is now fully implementing the May 2022 commitments to the Cuban people. We believe that the growth of an independent, entrepreneurial private sector in Cuba is fully aligned with our values and is the best hope for generating economic development and employment in Cuba,” a senior administration official said. “And the growth of this sector is also consistent with the President’s guidance to implement measures that will benefit the Cuban people while continuing to minimize resources to the Cuban government.”
In 2022, the Biden administration announced a series of policy changes aimed at supporting the Cuban people, including reinstating the Cuban Family Reunification parole Program and increasing consular services and visa processing.
The Treasury Department is taking this step by amending the Cuban assets control regulations.
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