September 23, 2019
Latest News

US limits amount of money Cubans may send family members on the island

 Photo of US Secretary of the Treasury Steven Mnuchin, who announced Friday new measures that will limit to $1,000 per quarter the amount of money in remittances that Cuban residents in the US can send family members on the island. EFE-EPA/Shawn Thew/File

Photo of US Secretary of the Treasury Steven Mnuchin, who announced Friday new measures that will limit to $1,000 per quarter the amount of money in remittances that Cuban residents in the US can send family members on the island. EFE-EPA/Shawn Thew/File

Washington, Sep 6 (efe-epa).- The United States government announced Friday new measures that will limit to $1,000 per quarter the amount of money in remittances that Cuban residents in the US can send family members on the island.

"OFAC (Office of Foreign Assets Control) is placing a cap of $1,000 U.S. dollars per quarter that one remitter can send per quarter to one Cuban national," US Treasury Secretary Steven Mnuchin said in a statement.

He also said that the US "is prohibiting remittances to close family members of prohibited Cuban officials and members of the Cuban Communist Party."

Up to now there have been no limits placed on either the quantity or frequency of remittances sent to Cuba since they were legalized in 2014, when the Barack Obama administration (2009-2017) normalized relations with the Caribbean island, thus putting an end to 50 years of Cold War hostility between the two nations.

However, US President Donald Trump has described that strategy as a "terrible and misguided deal" on various occasions.

"We are taking additional steps to financially isolate the Cuban regime," Mnuchin said.

The head of the Treasury Department said the United States "holds the Cuban regime accountable for its oppression of the Cuban people and support of other dictatorships throughout the region, such as the illegitimate Maduro regime."

"Through these regulatory amendments, Treasury is denying Cuba access to hard currency, and we are curbing the Cuban government's bad behavior while continuing to support the long-suffering people of Cuba."

In June the Trump administration banned cruise ships from sailing to the island.

Since then, the United States has not permitted visits to Cuba on passenger ships or recreational voyages, including cruise ships and yachts, private and corporate aircraft.

Nonetheless, commercial flights continue to operate between the US and Cuba.

Since he assumed the presidency in January 2017, Trump has toughened US policy toward Cuba by cutting diplomatic staff, activating a law allowing Cubans in the US to sue in court for assets expropriated following the Revolution, and by slapping sanctions on the island's hotels, thus expanding the economic and trade embargo. EFE-EPA asl/cd

News history
Tesla stock has risen this month as its 3rd-quarter numbers approach

By David Marino-Nachison

Australian Navy begins sea trials of 3rd air warfare destroyer

Sydney, Australia, Sep 16 (efe-epa).- Australia has begun the first phase of sea trials of its third and final Air Warfare Destroyer, the Department of...

Nissan Motor CEO steps down in the wake of bonus scandal

Tokyo, Sep 16 (efe-epa).- Hiroto Saikawa stepped down from his post as chief executive officer of Nissan Motor on Monday and has been replaced by Yasuhiro...

Trump says US is "locked and loaded" to respond to attack on Saudi oil

Washington DC, Sep 15 (efe-epa).- The president of the United States on Sunday warned that his administration was "locked and loaded" to respond to a recent...

Nissan CEO steps down over bonus scandal

Tokyo, Sep 9 (efe-epa).- Nissan Motor's CEO, Hiroto Saikawa, will step down on 16 September on the back of an investigation into over payments the executive...

Volkswagen to pay multi-million-dollar settlement over 'dieselgate' Australia

Sydney, Australia, Sep 16 (efe-epa).- German car giant Volkswagen has agreed to pay millions in compensation to those affected by its diesel emissions...

General Motors braces for first nationwide strike in 12 years

Washington DC, Sep 15 (efe-epa).- The United Automobile Workers trade union on Sunday called for a nationwide strike of 48,000 employees at General Motors,...

Mexico seeks to topple Brazil's Volkswagen Guinness World Record

Puebla, Mexico, Sep 15 (efe-epa).- The Mexican state of Puebla over the weekend attempted to take the Guinness World Record for the most Volkswagen vehicles...

Argentina's gov't to present new budget amid economic woes

Buenos Aires, Sep 15 (EFE).- Finance Minister Hernan Lacunza will present the proposed 2020 budget to the Argentine Congress this week, a budget that will...

World's biggest oil producer reduces output by 50 percent after Saudi attacks

By Suleiman al-Assad

Battle to power electric vehicles reaches Sweden

By William Boston

Are central banks losing their clout?

By Randall W Forsyth

Ecotourism, the answer to Latin America's rural development needs

By Maria Jose Brenes

Havana-based cigar maker says it doesn't foresee Helms-Burton lawsuits

Havana, Sep 13 (efe-epa).- Habanos S.A., a Spanish-Cuban joint venture that is a leading maker of Premium cigars, said Friday it does not believe it is at...

US pledges to increase trade with Brazil, without mentioning bilateral deal

Washington, Sep 13 (efe-epa).- US Secretary of State Mike Pompeo promised his Brazilian counterpart here Friday that exchanges of goods and services between...

Mexicans make drinking straws from reeds to curb use of plastic

Jose de Jesus Cortes

London, Sep 13 (EFE).- The London Design Festival returns this weekend to the British capital with events and facilities bringing together the best of the...

China exempts US soy, pork products from tariffs ahead of US negotiations

By Paula Escalada Medrano.

Vaping giant Juul Labs debates pushing back on US' new ban on e-cigarettes

By Jennifer Maloney

Trump's plans for oil drilling in Arctic refuge clear big hurdle

By Timothy Puko

IMF: US-CHINA TRADE WAR STARTING TO WEIGH ON GLOBAL ECONOMY

Washington, Sep 12 (efe-epa).- The International Monetary Fund said Thursday that the trade war between the United States and China is already triggering a...

Argentina’s obsession with the dollar, a vicious circle amid a crisis

By Rodrigo García

New tariffs applied on Chinese imports to the US

Beijing, Sep 12 (efe-epa).- China's Customs Tariff Commission of the State Council has postponed the planned 25 percent tariffs on 16 products from the...

EU's top diplomat visits Mexico to boost trade agreement

By Eduard Ribas i Admetlla

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.