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The U.S. lifted some financial restrictions against Cuba on Tuesday, in a move designed to boost private businesses on the island. The measures will allow independent entrepreneurs to open and ...
The United States interest in Cuban land and resources continued to increase under Batista's rule, as 59% of exports went to, and 76% of the imports came from, the United States before 1959. [10] After the Revolution, Fidel Castro consolidated power and declared Cuba a communist country.
[29] [30] President Ronald Reagan reinstated the trade embargo on April 19, 1982, though it was now only restricted to business and tourist travel and did not apply to travel by U.S. government officials, employees of news or film making organizations, persons engaging in professional research, or persons visiting their close relatives. [30]
Ties between the U.S. and Cuba were essentially frozen after the 1959 revolution that saw Fidel Castro rise to power and install a Communist government. There was a wave of nationalizations of large companies, although some small private businesses were allowed to stay open until 1968.
Notably, the document states that Gaviota, the tourism holding company that manages 115 hotels and other businesses like car rentals and a travel agency, had $4.3 billion in its bank accounts as ...
The U.S. said it would permit small entrepreneurs on the Communist-run island to open and access U.S. bank accounts from Cuba for the first time in decades, followi US announces measures to give ...
The list excludes the following three banks listed amongst the 100 largest by the Federal Reserve but not the Federal Financial Institutions Examination Council because they are not holding companies: Zions Bancorporation ($87 billion in assets), Cadence Bank ($48 billion in assets) and Bank OZK ($36 billion in assets). [2]
The United States has piled dozens of new sanctions on the Communist-run country since a trade embargo was put in place following Fidel Castro's 1959 revolution, most recently under former ...