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USA trade embargo costs Cuba almost 834 bln Dollars : FM

During Pope Francis’ visit to Cuba, which starts Saturday, he’s likely to address some of the issues the U.S.is also promoting on the island. Over time that creates space for personal freedom and a long-term political transition, he said.

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The rules target travel, telecommunications, Internet-based services, business operations, banking and remittances, and allow USA companies to establish a presence in Cuba.

The action comes as Washington and Havana move toward normal relations after more than half a century of hostility.

Castro, who took over for his ailing brother Fidel provisionally in 2006 and definitively in 2008, has made only one known visit to the United States, briefly visiting Houston shortly after the 1959 revolution.

The official, who is familiar with the diplomacy, described significant progress in U.S.-Cuban discussions since the former Cold War foes reopened embassies in their respective countries in July.

This year, however, Cuba will introduce a resolution that also “welcomes” the reestablishment of relations with Washington, and acknowledges Obama’s determination to work with the US Congress to lift the embargo, Rodriguez told a news conference.

A five-decade USA trade embargo against Cuba has cost it almost 834 billion US dollars and continues to hamstring its development despite recent diplomatic breakthrough between both sides, Cuban Foreign Minister Bruno Rodriguez said Wednesday.

Washington also plans to publish new regulations soon making it easier for USA citizens to visit the island and do business with its growing ranks of independent entrepreneurs.

Meanwhile, Verizon joined online home renter Airbnb as the second major USA company to begin operations in Cuba since the declaration of détente. Credit card and other companies still can’t transfer payments to Cuba. Cuban nationals were limited to carrying $3,000.

“This latest set of regulatory changes represents another momentous step by the Obama administration to support the Cuban people through greater engagement with the American private sector”, #CubaNow Executive Director Ric Herrero said in a statement.

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The rules address traveler safety by allowing the export of civil aviation equipment to Cuba to ensure aircraft safety, officials said.

Cuba's Raul Castro to address UN on Sept. 28