Obama Admin allows Cubans to open bank accounts, earn salaries in US

WASHINGTON, March 15 (KUNA) — The Obama Administration will now allow Cubans to open bank accounts and earn salaries in the US as the two countries take further steps toward normalizing relations, the Department of the Treasury announced Tuesday.
The US banks will also process “U-turn transactions” from one foreign country to another in which Cuba or a Cuban national has an interest, and accept Cuban cash and travelers’ checks, the Treasury revealed.
President Barack Obama will visit Cuba next week, in what will be a first for a US president in more than 50 years.
Americans intending to travel to Cuba for educational purposes will find travel cheaper and more accessible, the Treasury said.
“Provided that the traveler engages in a full-time schedule of educational exchange activities intended to enhance contact with the Cuban people, support civil society in Cuba, or promote the Cuban people’s independence from Cuban authorities and that will result in a meaningful interaction between the traveler and individuals in Cuba,” it noted.
The announcement also allows Cuban businesses that export goods or carry out humanitarian work to establish a physical presence in the US, and shipping vessels will be authorized to carry cargo from the US to Cuba, then onto other countries.
“The goal of the President’s policy with Cuba is simple: to improve the lives of Cubans and to advance the interests of the United States,” White House Press Secretary Josh Earnest said in a statement. (end) ys.ibi