The Biden administration amended and clarified a number of existing sanctions against Cuba on Tuesday to allow private entrepreneurs and businesses on the island to open U.S. bank accounts and access online banking as part of its effort “increase support for the Cuban people” while avoiding any assistance to the government.
By relaxing sanctions, the administration also seeks to stem recent outreach by the Cuban government to both Russia and China for economic and other assistance. Still in place is the 1960s economic embargo, which Cuba calls a blockade, and several subsequent legislative expansions, and the U.S. designation of Cuba as a state sponsor of terrorism — along with Syria, North Korea and Iran.
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