Remitters Eye Cuba-U.S. Market Expansion As Relations Thaw

While the U.S. embargo remains in effect and most transactions continue to be barred, rules on transfer of funds and remittances to and from Cuba — currently topping $3bn annually — are being loosened up.

The remittance to Cuba of money from the U.S. by family members has already been permitted in some shape or form for two decades.

U.S. officials began easing rules on remittances steadily, and a new step in September, one month after the countries opened their respective embassies, has brought unrestricted transfers of this type closer.

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