The United States on Tuesday announced further easing of sanctions on Cuba, the latest move towards fully restoring relations with Communist-run country.
The measures come into effect on Wednesday and include lifting export payment and financing restrictions as well as making air travel easier between the two countries by allowing code-sharing and leasing arrangements with Cuban airlines.
US banks will now be able finance authorised exports to Cuba except for agricultural commodities and re-export of non-US goods.
Washington officials stressed that the impact of the measures will depend upon Cuban economic liberalisation.
One area doing particularly well is the tourism industry.
Demand is unprecedented with record numbers of people visiting the Caribbean island a after the thawing of relations with the United States.
Surge of Americans tests limits of Cuba's tourism industry: By Jaime Hamre HAVANA, Jan 26 (Reuters) – Cuba's t… https://t.co/D6xvjRmTml— S MAYANA (@Stiff_Mayana) January 26, 2016
Last year tourist numbers were up by over 17 percent to a record 3.52 million visitors.
The number of Americans setting foot on the island rose 77 percent to 161,000, and that doesn’t count the hundreds of thousands of Cuban-Americans.