August 31, 2021

By Today, State Department And Treasury Department Were To Deliver Remittance Recommendations To President Biden. Did They? When Will Decisions(s) Be Announced? Implemented?

August 31, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

UPDATE: Received from the United States Department of State at 3:15 pm on 1 September 2021: "The Administration formed a U.S. governmental Remittance Working Group to review available options for remittance channels so the Cuban people receive the maximum benefit from remittances their families in the United States send. We can confirm that the Remittance Working Group, co-led by the Department of State and the Department of the Treasury, delivered its recommendations to the White House on August 30."

Taken Collectively, Commercial And Economic Decisions By Cuba During In 2021 Are Openings For Biden-Harris Administration Remittance Re-Engagement To Support Re-Emerging Private Sectors.

The White House
Washington DC
30 July 2021

President Joe Biden: “And the direct State- and I’ve directed the State Department and the Treasury Department to provide me, within one month, recommendations of how to maximize the flow of remittances to the Cuban people, without the Cuban military taking their cut. And we’re working to increase U.S. staffing at our embassy while prioritizing the safety of our personnel.”

Tuesday, 31 July 2021, is “within one month,” and the [Cuba] Remittance Working Group (RWG) recommendations will be presented to President Biden.

By today, the RWG will, if not already, present to President Biden its recommendations for financial re-engagement with the Republic of Cuba.

Unknown is when President Biden will review the recommendations and then determine which, if any, of the recommendations he will implement.

Issues relating to decision-making about withdrawals from Afghanistan, the recurring multi-country impact of “Havana Syndrome” upon employees of the United States government, and social media-related regulations issued by the government of the Republic of Cuba will permeate negatively the decision-making process.

The Biden-Harris Administration (2021- ) will attempt the impossible- wanting not to be perceived as providing value to the Diaz-Canel-Valdes Mesa Administration (2019- ) in Havana. The focus will shift from wanting to provide nothing to limiting what is provided and conditioning where possible what is provided.

There exists an influential constituency within the Biden-Harris Administration and outside of the Biden-Harris Administration who support United States regulations and policies remaining as they are despite hardship inflicted upon the 11.3 million citizens of the Republic of Cuba, with the goal to force more promptly further commercial, economic, and political change within the Republic of Cuba. The constituency’s baseline is from evaluating decisions taken by the Diaz-Canel-Vales Mesa Administration particularly during the last three months- since the protests of 11 July 2021, but collectively since 1 January 2021- and reasonably expecting that the dire financial condition within the 800-mile archipelago will continue, may become worse, and result in a further lessening of control by the government.

Thus, the goals of the Biden-Harris Administration will include balancing perceived and actual value to the government of the Republic of Cuba with perceived and actual value to the 11.3 million citizens of the Republic of Cuba. There will be an emphasis upon support for the re-emerging private sectors in the Republic of Cuba which continue to represent the most efficient means of further separating control by the state with self-determination.

During the last nearing nine months, and increasing in frequency during the last three months, the Diaz-Canel-Valdes Mesa Administration has provided foundational assistance to the Biden-Harris Administration by publishing regulations (and publishing intentions to publish regulations) that directly impact commercial and economic sectors. While there remain questions as to how the regulations will be implemented, the expectation is with the government of the Republic of Cuba deeply in debt to importers, exporters, and service providers- and with the situation unlikely to improve quickly, the words in published regulations that are or seem now to be constrictive will eventually be expansive later.

The last ninety days for the Republic of Cuba have, from a commercial perspective, been astonishing in swiftness and depth. Some of what has been approved: Duties and fees eliminated on certain imports; Regulation of cryptocurrency; Postal service to provide financial services; Financing for purchases; Private sector increases access to suppliers, foreign currency; Suspension of tariffs and fees for residential solar systems; Regulations for micro, small, and medium-size enterprises (MSMEs); and Adoption of the LLC as an ownership format.

Since 1 January 2021, the government of the Republic of Cuba merged its two operational currencies, the Convertible Peso (CUC- 1 to US$1.00) and the Cuban Peso (CUP- 24 to US$1.00) leaving the CUP. The CUP remains overvalued (“street” value is 60-70 to US$1.00). Further official devaluation is expected perhaps by the end of 2021. There has been decentralization within the commercial sectors, though there remain opportunities for additional changes. Expanded use by private companies of Republic of Cuba government-operated Fincimex-created American International Services (AIS) card cards issued by Republic of Cuba government-operated Banco Metropolitano. Expanded use of Moneda Libremente Convertible (MLC) for transactions. Republic of Cuba government-operated companies and private sector companies may retain from 80% to 100% of revenues from exports.

For the Biden-Harris Administration there now exists opportunities to be practically proactive rather than reactive absent of practical operational considerations.

Authorizing transactions (direct investment, direct financing, direct correspondent banking, U-turn transactions, electronic remittance transfers) that directly (not through third countries) and immediately provide value to the re-emerging private sectors.

Because the government of the Republic of Cuba has yet to authorize something is not a reason for the government of the United States to wait until they do so.

The White House
Washington DC
30 July 2021

Tuesday, 31 July 2021, will be “within one month,” and the Remittance Working Group [RWG] recommendations are due to be presented to The President.

From a United States Department of State spokesperson: "The Administration has formed a U.S. governmental Remittance Working Group to review available options to establish remittance channels so that the Cuban people receive the maximum benefit from remittances their families send. At the President’s direction the State Department and the Treasury Department will provide recommendations to the President for how to maximize remittances to the Cuban people, while minimizing or eliminating the Cuban military’s ability to take a cut."

The White House
Washington DC
15 July 2021

President Joe Biden: “Cuba is a -- unfortunately, a failed state and repressing their citizens. There are a number of things that we would consider doing to help the people of Cuba, but it would require a different circumstance or a guarantee that they would not be taken advantage of by the government -- for example, the ability to send remittances to -- back to Cuba. I would not do that now because the fact is it’s highly likely that the regime would confiscate those remittances or big chunks of it.”

LINK To Complete Analysis In PDF Format

LINKS To Recent Remittance-Related Analyses

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically August 19, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective August 12, 2021

Cuba Adopting LLC Structure For Private Sector Is A Message To Biden-Harris Administration- Even If That Was Not [Primary] Intention. Familiarity For Sources Of Investment And Financing. August 30, 2021

Cuba Issues 175 Pages Of Regulations For Micro, Small And Medium-Sized Enterprises (MSME's) August 20, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. August 07, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad August 06, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access August 05, 2021

Cuba Suspends Tariffs And Fees For Non-Commercial (SME's Next?) Solar Systems. Another Opportunity For Biden-Harris Administration To Support U.S. Exporters And Florida Companies Should Benefit. July 30, 2021

Biden-Diaz-Canel Remittance Compromise: U.S. And Cuba Companies Suspend Transaction Fees Until 31 December 2021. Impact On 800 Publix Markets July 27, 2021

U.S. Department Of State Memorandum: The 17 Company Members Of The CRWG- Moving Remittances And Using Remittances; Cuba Entities Need Be Part Of The Process July 26, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

Biden Administration Wants To Deny Cuba's Government (Military) With Earnings- Conditional Resumption Of Product Filled Flights To Airports In Cuba Benefits Self-Employed; By-In From Congress? July 19, 2021

Is Biden-Harris Administration Nearing Decision To Reverse Trump-Pence Administration Prohibition On Cuba Military Earning Money From Remittances? July 15, 2021

Cuba Central Bank Authorizes Cuba's Postal Service To Provide Financial Services. Continuing Expansion For Receiving And Spending Funds Assists Private Sector Aug 27, 2021

Cuba Central Bank Moving Nearer To Regulations For Cryptocurrencies- Another Signal To United States That Cuba Is Changing. Private Sectors Are Expanding- Though Government Remains Reluctant August 27, 2021

August 30, 2021

Cuba Adopting LLC Structure For Private Sector Is A Message To Biden-Harris Administration- Even If That Was Not [Primary] Intention. Familiarity For Sources Of Investment And Financing.

August 30, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

For companies, investment platforms, and individuals subject to United States jurisdiction, the 175-pages published in the Gaceta Oficial by the Ministry of Justice of the Republic of Cuba on 19 August 2021 were profound in that by their existence they conveyed deficiencies and provided opportunities within the commercial environment of the Republic of Cuba. LINK To Document

The private sector in the Republic of Cuba as currently structured is not sufficient, the private sector as structured is devoid of capital, the private sector as structured is unable to preserve existing societal demands nor create opportunities required by current and future generations of Republic of Cuba nationals.

Doubtful that ideological acolytes, purists of the Partido Comunista de Cuba (PCC) believe in the inherent value of private enterprise let alone crafting and implementing a legal structure create it, to protect it, and then to nurture it.

Within the PCC, pragmatists, however, seek inspiration, and thus survival from commercial, economic, and political models of the People’s Republic of China and Socialist Republic of Vietnam rather than Democratic People’s Republic of Korea.

Most striking in the 175-pages were the letters in Chapter II, Constitution of MPIYMES [micro, small, and medium-sized enterprises], Section On, Generalities:

Article 11. MIPYMES are constituted as commercial companies, which adopt the form of a limited liability company, hereinafter SRL, by deed public, which is registered in the Mercantile Registry and with its registration acquire personality legal.
Article 12. The form of LLC implies the existence of a commercial company, with own legal personality, whose capital is divided into social shares and is composed of the contributions of all the partners, who do not respond personally of social debts.
Article 13. MIPYMES can be made up of one or more partners.
Article 14.1. The name of the MSMEs necessarily includes the indication "Limited Liability Company" or its abbreviation "S.R.L."

The government of the Republic of Cuba was adopting, legalizing, the Limited Liability Company, known as the LLC.

The definitions and regulations thus far adopted by the government of the Republic of Cuba do not mirror precisely those found amongst the fifty states of the United States, although there are remarkable similarities- and those similarities will over time shift increasingly toward United States norms. LINK To State of Florida LLC Requirements

While some observers may dismiss the decision as insignificant, as a gesture absent substance, as a morbid joke, careful- and artful analysis belies any concern about appearance. True, the sixty-two years of the Revolution is littered with initiatives created and implemented only to be reformulated or abandoned once a particular need has been achieved- a crisis averted or survived.

Could the same operational trajectory curtail the LLC? Yes, it could. Is it likely? No, it is not. Why? The Republic of Cuba no longer has the commercial, economic, and political elasticity to retake, and not replace, what has been given. There are no countries today which will support the Republic of Cuba so that it might remain an “amusement park of decay” at the expense of taxpayers in another country or countries.

Why would the government of the Republic of Cuba adopt a business structure that while rooted in the German Empire during 1892 as Gesellschaft mit beschränkter Haftung (GmbH), has for decades been widely adopted throughout the United States?

Perhaps… Because the LLC is familiar. The LLC is explainable. The LLC is relatable. The LLC creates increased commonality and functionality when a company or individual subject to United States (or other country) jurisdiction is contemplating providing direct investment to and direct financing for an individual or group in the Republic of Cuba who want to start a business or who have a business and want it to grow.

For the Biden-Harris Administration, the adoption of the LLC by the government of the Republic of Cuba provides another reason for the establishment of direct correspondent banking, the re-authorization of U-turn transactions, and an operationally efficient direct means for electronic remittance transfers to support direct investment to and direct financing for the re-emerging private sectors. Implementing each will in the near term overwhelm the financial infrastructure of the Republic of Cuba, but that consequence is nothing compared to the eventual benefit.

Now is opportune to provide the re-emerging private sector, and the entrepreneurs who are their foundation, with the most efficient means for engagement with companies and individuals subject to United States jurisdiction.

The government of the Republic of Cuba may not have adopted the LLC because it would send a message to the government of the United States. However, the adoption of the LLC is a message- delivered directly or indirectly. The message is helpful rather than an additional obstacle.

The definitions of the LLC as outlined in the 175-pages published in the Gaceta Oficial on 19 August 2021 are not the final definitions and regulations. They are vague in some instances. They are contradictory in other instances. They require clarification in other instances. The role of individuals not subject to Republic of Cuba jurisdiction remains unresolved. However, the definitions and regulations exist and that is important. They didn’t on 18 August 2021.

Salient points: First, the process for defining the LLC was not one where the PCC was an energetic participant for an expansive result. Second, as LLCs are created and begin to operate the regulations will evolve. There will be pushback from some members of the PCC. The unfolding process will be confrontational. There will be investigations to ensure “ideological integrity” of individuals owning and managing LLCs- and this will likely be particularly acute for those with more than 100 employees. The LLC will survive. With support from the Biden-Harris Administration, the LLC will thrive.

While the United States business community would prefer the government of the Republic of Cuba embrace a holistic and expansive approach for changes to the commercial and economic infrastructure, there are opportunities for engagement within the incremental model deployed currently in the Republic of Cuba.

The last ninety days for the Republic of Cuba have, from a commercial perspective, been astonishing in swiftness and depth. Some of what has been approved:

Duties and fees eliminated on certain imports
Regulation of cryptocurrency
Postal service to provide financial services
Financing for purchases
Private sector increases access to suppliers, foreign currency
Suspension of tariffs and fees for residential solar systems
Regulations for micro, small, and medium-size enterprises
Adoption of the LLC as an ownership format

Changes within the Republic of Cuba have never been about a moment, but rather a series of moments. Commercially and economically, 19 August 2021 was an important moment- and more will come because the government of the Republic of Cuba has no other option.

The Diaz-Canel-Valdes Mesa Administration will not collapse. It will adapt. As did its predecessors Raul Castro Administration (2008-2019) and Fidel Castro Administration (1959/1976-2008). For the Biden-Harris Administration to influence the behavior of current management in the city of Havana, Republic of Cuba, it too must adapt to the realities on the ground.

LLC Background

From the Internal Revenue Service (IRS): “A Limited Liability Company (LLC) is a business structure allowed by state statute. Owners of an LLC are called members. Most states do not restrict ownership, so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only one owner. A few types of businesses generally cannot be LLCs, such as banks and insurance companies. Check your state’s requirements and the federal tax regulations for further information. There are special rules for foreign LLCs. Depending on elections made by the LLC and the number of members, the IRS will treat an LLC as either a corporation, partnership, or as part of the LLC’s owner’s tax return (a “disregarded entity”). Specifically, a domestic LLC with at least two members is classified as a partnership for federal income tax purposes unless it files Form 8832 and affirmatively elects to be treated as a corporation. For income tax purposes, an LLC with only one member is treated as an entity disregarded as separate from its owner, unless it files Form 8832 and elects to be treated as a corporation. However, for purposes of employment tax and certain excise taxes, an LLC with only one member is still considered a separate entity.”

Investopedia: A limited liability company (LLC) is a business structure in the U.S. that protects its owners from personal responsibility for its debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.

From dummies: The limited liability company (LLC) didn’t come out of nowhere. Business entities with the same characteristics as LLCs have been around for many years. The origin of LLCs can be traced back to the Germans. In 1892, German law enacted what was called the Gesellschaft mit beschränkter Haftung (GmbH) — a modern-day variation of the English private limited company. After Germany established the GmbH, the concept soon spread throughout Europe and Central and South America. By the 1940s, in France especially, the concept of the limited liability company was becoming more popular than the traditional corporation. Not that Germany can take all of the credit. In 1874, Pennsylvania authorized the use of a Limited Partnership Association. By 1875, Michigan, New Jersey, Ohio, and Virginia had enacted similar legislation after seeing how the entity type was gaining popularity in Pennsylvania. Unfortunately, the laws of the time required that the company headquarters remain in one of those five states. Because those states weren’t huge epicenters of American commerce, the new legislation began to lose popularity. In 1977, Wyoming decided to spearhead an effort to build upon the antiquated Limited Partnership Association and enacted the first true LLC act. The legislature modeled the act after the German GmbH and the successful Panama version of the LLC. Because of Wyoming, the modern-day LLC protects all partners from the liability of the business and has a double layer of liability protection that protects the business from your personal creditors. After Wyoming, Florida followed suit in 1982. However, LLCs weren’t popular entities. Because they were hybrid entities — between a corporation and a partnership — the IRS had yet to decide how it was going to tax the LLC. After all, would you really want to form a business entity without knowing what sort of tax structure would be imposed on you? Finally, in 1988, the IRS ruling came: LLCs would be taxed as partnerships. The business’s profits and losses would flow through to the owners, and the LLC wouldn’t be recognized as a separate entity for tax purposes. After this ruling occurred, states began to form their own versions of LLC law.

LINK To Complete Analysis In PDF Format

LINKS To Recent Remittance-Related Analyses

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically August 19, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective August 12, 2021

Cuba Issues 175 Pages Of Regulations For Micro, Small And Medium-Sized Enterprises (MSME's) August 20, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. August 07, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad August 06, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access August 05, 2021

Biden-Diaz-Canel Remittance Compromise: U.S. And Cuba Companies Suspend Transaction Fees Until 31 December 2021. Impact On 800 Publix Markets July 27, 2021

U.S. Department Of State Memorandum: The 17 Company Members Of The CRWG- Moving Remittances And Using Remittances; Cuba Entities Need Be Part Of The Process July 26, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

Is Biden-Harris Administration Nearing Decision To Reverse Trump-Pence Administration Prohibition On Cuba Military Earning Money From Remittances? July 15, 2021

Cuba Central Bank Authorizes Cuba's Postal Service To Provide Financial Services. Continuing Expansion For Receiving And Spending Funds Assists Private Sector August 27, 2021

August 28, 2021

White House Press Secretary References Issues With Providing COVID-19 Vaccines To Cuba

August 28, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

The White House
Washington DC
27 August 2021

Briefing by Press Secretary Jen Psaki

Q Understood. And can I ask about -- the U.S. has donated over 3 million COVID vaccines to Afghanistan. The U.N. put out a report this week saying that the number of vaccinations in Afghanistan has significantly dropped since the Taliban took over. Does the White House or does the U.S. government have any indication of what’s happened to those vaccines? Are they in the hands of the Taliban, and are they still being distributed? Or is there a concern that the Taliban might try to sell those doses?

MS. PSAKI: Well, we have not worked with the Taliban as a -- as the government. Right? And a lot of these assistance is often distributed through humanitarian organizations or others who work through COVAX. I would have to check and see what the implementation and mechanisms are, but we are quite careful and very focused on vaccines not -- getting into the right hands. And for individual -- for countries we work with -- and remember, this was an issue with Cuba, right? -- we need to have mechanisms to ensure that they are getting out to the populations who need to get access to the vaccines.

informacion_oficialcm.png_830x600_q85_subject_location-640360_subsampling-2.png

August 27, 2021

Cuba Central Bank Authorizes Cuba's Postal Service To Provide Financial Services. Continuing Expansion For Receiving And Spending Funds Assists Private Sector

August 27, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

From CUBA STANDARD (8/27/21)- In an apparent response to the U.S. blacklisting of Fincimex — the Cuban counterpart of U.S. remittance companies — and of Banco Financiero Internacional (BFI), the Central Bank empowered Cuba’s postal system to provide financial services.

With Resolution 208, published Aug. 26 in the Gaceta Oficial, the central bank authorizes Grupo Empresarial Correos de Cuba to “act as a non-financial support entity for financial institutions on national territory”. The postal service will now be able to receive international bank transfers and money orders and deposit them in consumers’ hard-currency bank accounts in Cuba. Consumers will now be able to use post offices to effect transactions with magnetic cards connected to those accounts and make deposits and cash withdrawals in Cuban pesos.

LINK To Gaceta Oficial Resolucion 208 Banco Central de Cuba (8/26/21)

Recent Remittance-Related Analyses

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically August 19, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective August 12, 2021

Cuba Issues 175 Pages Of Regulations For Micro, Small And Medium-Sized Enterprises (MSME's) August 20, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. August 07, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad August 06, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access August 05, 2021

Biden-Diaz-Canel Remittance Compromise: U.S. And Cuba Companies Suspend Transaction Fees Until 31 December 2021. Impact On 800 Publix Markets July 27, 2021

U.S. Department Of State Memorandum: The 17 Company Members Of The CRWG- Moving Remittances And Using Remittances; Cuba Entities Need Be Part Of The Process July 26, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

Is Biden-Harris Administration Nearing Decision To Reverse Trump-Pence Administration Prohibition On Cuba Military Earning Money From Remittances? July 15, 2021

Cuba Central Bank Authorizes Cuba's Postal Service To Provide Financial Services. Continuing Expansion For Receiving And Spending Funds Assists Private Sector Aug 27, 2021

August 27, 2021

Cuba Central Bank Moving Nearer To Regulations For Cryptocurrencies- Another Signal To United States That Cuba Is Changing. Private Sectors Are Expanding- Though Government Remains Reluctant

August 27, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

LINK To Gaceta Oficial Resolution 215 (26 August 2021)

From Bitcoin Magazine (8/27/21) excerpts

On Thursday Cuba’s government said it would “recognize and regulate” Bitcoin and other cryptocurrencies for payments on the island, Bloomberg reported. The local Cuban Official Gazette has published a resolution which stated that the central bank will create rules for Bitcoin and other crypto assets to determine licensing laws for providers of crypto services on the island.

The resolution stated the central bank has power to authorize the use of Bitcoin and other crypto for “reasons of socio-economic interest,” according to the report. The resolution also said the state will act as a check over the bank’s operations, preventing the use of Bitcoin for “illegal activities”.

Because of tough embargo rules in Cuba it has become difficult to use dollars, and as a result the popularity of Bitcoin has grown among Cuba’s technologically savvy. A local programmer told Bloomberg that some Cubans are already using crypto in tandem with gift cards to make online purchases. The announcement comes just 10 days before El Salvador is to become the first country to make Bitcoin legal currency as a way to remove the fees and dangers of sending cash remittances, a staple of both economies.

It remains unknown how the central bank of Cuba will choose to regulate Bitcoin, as the only real controls it can put on the permissionless, immutable, unstoppable currency are through regulating exchanges and making it more difficult, though not impossible, for citizens to get access to its common on ramps and off ramps. Bitcoin regulation may come as a result of the government’s realization that people are using the currency to evade U.S. restrictions on sending money to Cuba.

From CUBA STANDARD (8/27/21) excerpts

Resolution 215, published Aug. 26 in the Gaceta Oficial, sets the norms how the central bank will regulate cyber currencies, and states that the central bank will license commercial providers, but spells out few details. “It will be important for the government to regulate and maintain sovereignty over the financial system”, said Eduardo Sánchez, a Cuban blockchain expert. “The Cuban context shares the same risk with any other crypto markets in the world — the volatility, security, capital flight, financing for criminal activities.”

The official recognition of cyber currencies follows a boomlet in Cuba prompted by the U.S. government’s shutdown of most legal channels for U.S.-Cuba remittances in late 2019. A more aggressive U.S. sanctions regime against Cuba in recent years has led international banks and companies to avoid transactions involving the island, and prompted remittance giant Western Union to pull out of Cuba. And most recently, travel restrictions imposed in response to the COVID-19 pandemic have been affecting informal remittance channels. In September 2019, the Central Bank – together with the University of Havana – began to study whether the country should introduce its own cryptocurrency, following the lead of Venezuela. There has been no announcement whether the partners have come to any conclusion.

The central bank resolution is a far cry from an enthusiastic embrace. Showing official Cuba’s skepticism regarding the soundness of cyber currencies, the resolution says the central bank will warn consumers about the risks of virtual money. In a final disclaimer, the text clarifies that “natural persons assume the risks and responsibilities … of operating with virtual assets and virtual asset service providers that function at the margins of the banking and financial system, even if virtual-asset transactions between said persons are not prohibited”.

State banks and enterprises will only be allowed to use cyber currencies with the express permission of the central bank. The new rule clarifies that all cyber currency service providers will have to seek a license from the central bank. The resolution defines as cyber currency service providers “any natural or judicial person that as business or business activity dedicates itself to the exchange between virtual assets and legal currencies; the exchange between one or more forms of virtual assets; the transfer of virtual assets; the custody or administration of virtual assets or instruments that allow control over virtual assets; and the participation in the provision of financial services related to the offer of an emission or sale of a virtual asset”.

In Cuba, a tech-savvy younger generation has increasingly adopted cyber currencies, thanks to the spread of mobile Internet use, and due to a weak local currency that makes it harder to get dollars, and U.S. sanctions complicating money transfers. Crypto currencies offer a parallel financial infrastructure, allowing users to bypass the U.S.-controlled SWIFT messaging service that banks use to communicate payment instructions.

A fairly high percentage of Cubans seem to have become familiar with — or even use — crypto currency. Cubans have used virtual currencies to get paid for jobs, receive remittances from the United States, and to invest in crypto assets. Along the way, Cuba has joined the world’s most active markets with crypto currency. According to Fintech Times, Cuba in late 2020 was the No. 1 country for crypto inquiries as a percentage of all inquiries on TradingView, a platform that keeps tabs on stocks, bonds, regular currencies and cryptocurrencies.

Qbita, a bitcoin exchange platform launched in 2019, leads the field of virtual currency service providers in Cuba, with 13,000 users and a volume of US$354,771 in transactions in 2020. Qbita facilitates the exchange between bitcoin and Cuban pesos, US dollars, and other cryptocurrencies. Other startups, such as Fusyona and Bitremesas, and more recently QvaPay, are not only transmitting remittances, but provide business solutions to Cuban entrepreneurs through the use of crypto assets.

Investment platforms such as Trust Investing and QubitTech manage crypto assets and offer investment plans to Cubans. Tulip Research, a financial forensics firm focusing on blockchain, defined both as Ponzi schemes, and the national exchange commissions of Spain and Panama issued a warning in 2020 against Trust Investing. But that has so far not stopped their rising popularity in Cuba. Meanwhile, crypto mining — the “production” of virtual money — is difficult to do in Cuba. Unlike in oil-rich countries such as Iran or Venezuela, where government subsidies lower the cost of electricity needed for computers to process cryptocurrencies, Cuban “miners” face material limitations.

Says Eduardo Sánchez: “There could be an entrepreneurship boom connected to crypto assets in the next couple of years in Cuba. There is potential and talent for that. But it all depends on the relationship with the U.S. and the success of domestic reforms.”

Recently, the U.S. Treasury has been catching up, in what seems to be a systematic crackdown against U.S. companies engaging in cryptocurrency transactions involving sanctioned countries. In late December, the Office of Foreign Assets Control (OFAC) fined BitGo, a Palo Alto, Cal.-based crypto wallet and custodian, for allowing users from Ukraine, Cuba, Iran, Sudan and Syria to access its crypto wallet. Six weeks later, OFAC announced it fined BitPay Inc., after it alleged that consumers in sanctioned countries had used the Atlanta-based company’s cybercurrency merchant payment solution. Both companies settled the allegations by paying a fine and agreeing to block customers in sanctioned countries. OFAC has also added individuals and hosts of cryptocurrency addresses, such as Zcash and Dash, to the Specially Designated Nationals (SDN) list, over crimes ranging from wire fraud to election interference.

Recent Related Analyses

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically August 19, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective August 12, 2021

Cuba Issues 175 Pages Of Regulations For Micro, Small And Medium-Sized Enterprises (MSME's) August 20, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. August 07, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad August 06, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access August 05, 2021

Biden-Diaz-Canel Remittance Compromise: U.S. And Cuba Companies Suspend Transaction Fees Until 31 December 2021. Impact On 800 Publix Markets July 27, 2021

U.S. Department Of State Memorandum: The 17 Company Members Of The CRWG- Moving Remittances And Using Remittances; Cuba Entities Need Be Part Of The Process July 26, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

Is Biden-Harris Administration Nearing Decision To Reverse Trump-Pence Administration Prohibition On Cuba Military Earning Money From Remittances? July 15, 2021

Cuba Central Bank Authorizes Cuba's Postal Service To Provide Financial Services. Continuing Expansion For Receiving And Spending Funds Assists Private Sector Aug 27, 2021

August 26, 2021

Goldwind Turbine Of China Libertad Act Lawsuit Dismissed (In Part) By Court, But Plaintiffs May Refile- And Likely Will- Court Confirmed They Have Standing

August 26, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

NORTH AMERICAN SUGAR INDUSTRIES INC., V. XINJIANG GOLDWIND SCIENCE & TECHNOLOGY CO., LTD., GOLDWIND INTERNATIONAL HOLDINGS (HK) LTD., DSV AIR & SEA INC., BBC CHARTERING USA, LLC, and BBC CHARTERING SINGAPORE PTE LTD., [1:20-cv-22471; Southern Florida District].

Gibson, Dunn & Crutcher (plaintiff)
Mandel & Mandel (plaintiff)
Morgan, Lewis & Bochius (defendant)
Akerman (defendant)
Hogan Lovells LLP (defendant)

LINK To Order (8/24/21)

LINK To Libertad Act Lawsuit Filing Statistics

Excerpts:

The Cuban government is constructing a large-scale wind power project (the “Project”) located in the Cuban province of Las Tunas, about 15 miles from Puerto Carupano. [ECF No. 1 ¶ 82].2 The Project will house 54 wind turbines and is expected to significantly increase Cuba’s renewable energy capacity. Id. at ¶ 85. Equipment for the Project is imported through Puerto Carupano. Id. at ¶ 82.

Goldwind International contracted with Cuba’s Ministry of Energy and Mining to supply the Project with wind turbines and other equipment. Id. at ¶ 88. Goldwind International and Goldwind Science worked with shipping carriers DSV, BBC USA, and BBC Singapore to transport equipment to Cuba for the Project.

In their Motion, Defendants allege that on April 1, 2019, Plaintiff, Plaintiff’s parent companies, and thirteen additional co-debtors (collectively, the “Hexion Debtors”) filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code, 11 U.S.C. §§ 101, et seq. (the “Bankruptcy Proceeding”). [ECF No. 54].4 According to Defendants, Plaintiff did not mention the Certified Claim or any Act related claims in its filings for the Bankruptcy Proceeding. Id. On June 25, 2019, the bankruptcy court confirmed the Hexion Debtors’ Reorganization Plan, which became effective on July 1, 2019.

Defendants argue that Plaintiff’s failure to disclose its Certified Claim or Act-related claims in the Bankruptcy Proceeding bars this action. The Court finds that it is premature to address these issues.

As set forth in detail above, Plaintiff has adequately alleged standing under Article III of the constitution to bring these claims.

Though Plaintiff has adequately alleged Article III standing, the Complaint must be dismissed as a shotgun pleading.

Here, the Complaint improperly incorporates all the factual allegations into each count, without properly tying each of those factual allegations to the claims raised. See Innova Inv. Grp., LLC v. Village of Key Biscayne, No. 19-CIV-22540, 2020 WL 6781821, at *5 (S.D. Fla. Nov. 18, 2020). In addition, each count adopts the allegations of all preceding counts. Weiland, 792 F.3d at 1321. As a result of these pleading deficiencies, the Court is unable to ascertain which facts support which claims and whether Plaintiff has stated any claims upon which relief can be granted. Therefore, the Complaint shall be dismissed without prejudice.

Based on the foregoing, it is ORDERED AND ADJUDGED as follows: 1. Defendants’ Motion to Dismiss Complaint, [ECF No. 54], is GRANTED in PART. The Complaint is dismissed without prejudice. 2. Defendants’ Motions to Dismiss for Lack of Personal Jurisdiction, [ECF Nos. 48, 52, 53, & 107], are DENIED as MOOT as there is no longer an operative complaint. Defendants may refile their respective motions based on lack of personal jurisdiction, supplemented by the facts obtained during jurisdictional discovery, upon the filing of an amended complaint.

Screenshot 2021-08-26 at 06-48-43 Wind power solutions_Wind turbine_Wind farm GOLDWIND.png

August 25, 2021

Cuba Continues Progress From Analog Television To Digital Television

August 25, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

Advanced Television
East Sussex, United Kingdom
27 July 2021

Cuba delays full digital TV until 2024
By Chris Forrester

Cuba has delayed its digital switchover. Cuba’s deputy minister of communications, Ana Julia Marine Lopez, confirmed in an interview with a local newspaper that the nation has put off a complete switch to DTT until 2024. She blamed the delay on costs and the ongoing financial problems the nation is facing. According to Marine Lopez, Cuba’s government has approved the financing that allowed to boost the production of set-top boxes and is expected to deliver 318,000 units this year. From 2013 to today Cuba has sold 2.7 million DTT STBs. However, some progress is being made; The first switch-over to DTT will start later this year in Cuba’s western provinces, followed in 2022 in the region from Villa Clara to Camagüey. The final phase, she said, would take place in 2023 in the eastern portion of the nation.

Xinhua News Agency
Beijing, China
24 May 2021

China supports development of Cuba's digital TV platform
By Yosley Carrero

HAVANA, May 23 (Xinhua) -- Lazaro Campos, who works as a supervisor at Havana-based Camilo Cienfuegos electronics company, has changed his daily routine over the past few weeks as the island started manufacturing set-top boxes to meet local demand."Cuba is moving from analog (TV) to digital TV. That is why we want to make sure people get access to the necessary equipment," he said. Campos told Xinhua that components used in the production process were imported from China, which is the island's second largest commercial partner and a main technical assistance provider. "We have received training from Chinese experts who have very much contributed to improving the quality of our work," he added.So far, technicians from the Cuban electronics company have already manufactured 90,000 of the 318,000 converter boxes expected to be produced by the end of the year. In parallel, over 32,000 TV sets will be manufactured by the company in 2021 to supply the country's stores as well as to support Cuba's education and tourism industries.Sitting on a black chair, Nayta Perez checked the quality of sound and image of 32-inch and 43-inch hybrid TV sets before they were packaged and sent to a warehouse. "It is a very time-consuming process, but very important," she said. "We have to guarantee the product meets all the requirements for people to have a comfortable digital TV viewing experience at home."The state-run electronic company is also boosting innovation and research on digital TV at a laboratory donated by China. "We have gained some expertise with analog TV, but the digital era has changed almost everything," said 48-year-old Camilo Varona, who has been working in the company since 1994. "China and Cuba have built a win-win relationship."Digital television rollout in the Caribbean country kicked off in 2013, with converter boxes donated by the Chinese government being part of the first test in the capital city of Havana. At present, more than 40 municipal, provincial and national TV channels in Cuba broadcast via analog and digital signals. According to local media, new digital television transmitters would be spotted at various corners of the country this year.Edel Gomez, director of the electronics company, told Xinhua that Cuba uses renewable energy sources and environmentally friendly technologies to produce set-top boxes and hybrid TV sets. "The outcome of joint work between Chinese companies and Cuba has been very positive. The digital TV with Chinese standards has shown its high quality of signal reception, sound, and image resolution," he said. "Things are going well."

Advanced Television
East Sussex, United Kingdom
28 May 2013

Cuba to start DTT in June
By Chris Forrester

Cuba will start testing its Chinese version of digital terrestrial TV in June, Cuba has adopted China’s Digital Terrestrial Multimedia Broadcast standard (DTMB) and will start testing in “real conditions” around Havana, the capital. As part of the tests the Communications Ministry will be distributing set-top box decoders to various neighbourhoods to ensure adequate transmissions are being made. The Chinese government has donated much of the equipment needed. The test receiver boxes can be bought be residents at a price 7.35 Cuban Pesos (about US 33 cents) probably the lowest cost – to consumers – of a box anywhere on the planet.

Advanced Television
East Sussex, United Kingdom
22 March 2013

Cuba adopts Chinese TV standard
By Chris Forrester

It may not be the largest TV market on the planet but China must be pleased that it will be providing equipment for Cuba’s adoption of digital terrestrial TV, just 90 miles from the Florida coast. China’s DTMB standard (Digital Terrestrial Multimedia Broadcast) is used throughout China, Hong Kong, Macau and Laos. Other countries using it, although often in trial modes only, include Iraq, Jordan, Syria and Lebanon. The advantages are that the system permits reception by handheld devices, and embraces HD, standard definition digital and delivery to multimedia devices.

August 20, 2021

Cuba Issues 175 Pages Of Regulations For Micro, Small And Medium-Sized Enterprises (MSME's)

August 20, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

Radio Cadena Agramonte
Camaguey, Republic of Cuba
20 August 2021

Regulations on small and medium-sized enterprises in Cuba are published

Havana, Aug 20.- Cuba today issued regulations related to the activities that micro, small and medium-sized private companies, non-agricultural cooperatives, and self-employed workers can carry out.

The Official Gazette publishes Decree-Law 46 signed by the president of the National Assembly of People's Power, Juan Esteban Lazo Hernández, this Thursday , its purpose is to regulate the creation and operation of micro, small and medium-sized enterprises (MIPYMES).

The legal norm highlights that MSMEs are those economic units with legal personality, which have their own dimensions and characteristics, and whose purpose is to develop the production of goods and the provision of services that meet the needs of society. These can be state, private or mixed property, and are classified depending on the number of employed persons as: Micro enterprise, whose range of employed is from one to 10 persons; Small business, from 11 to 35, and Medium business, from 36 to 100 people.

Stresses that MSMEs have business autonomy; they contract goods and services with the other subjects recognized in the current legislation with equal conditions, and provide statistical information as provided by law. In addition, they can export and import in accordance with the provisions of current legislation; manage and administer your assets; define the products and services to be marketed, as well as their suppliers, clients, destinations and market insertion; operate bank accounts and access any lawful source of financing; set the prices of its services and goods except those that are centrally approved.

Define its structure, staff and number of workers; determine the income of its workers respecting the established minimum wages; make the investments required for the development of the MIPYME; create establishments that do not have legal personality, inside or outside the province where their registered office is located; and another faculty or right that derives from its condition of company, as long as it does not oppose what is legally established. Regarding the activities to be carried out by micro, small and medium-sized private companies, non-agricultural cooperatives and self-employed workers, Decree 49 states, which are those considered legal, except those that are regulated in the list of unauthorized activities, annexed to that regulation.

Unauthorized activities include pest control, except domestic pest control; ordinary hunting and trapping for commercial purposes, and mining and quarrying. Within the manufacturing industry, the production of sugar, natural mineral waters and tobacco is not authorized; the printing of newspapers, magazines, tabloids, books, maps, atlases, postage stamps, tax stamps, title documents, checks and other guarantee documents, except for products associated with the promotion of commercial activity. Manufacture of arms and ammunition; of military insignia; of cells, batteries and accumulators; of motor vehicles; of ships, floating structures, recreational and sports boats, as well as other boats; as well as repair and maintenance of firearms and ammunition, among others.

The creation of record labels, music publishers and entities for the commercialization of records and other phonographic supports are not authorized, except for the activities of recording and post-production of sound and licenses for record sellers already approved; radio transmissions; television programming and broadcasts, on the cultural programming of music, performing arts, books, plastic arts, cinema, heritage and community cultural work; as well as wireline, wireless and satellite telecommunications activities that include the public internet access service. The annex to the regulations also includes other unauthorized activities in activities of extraterritorial organizations and bodies; of services; artistic, entertainment and recreational; human health care and social assistance; teaching; real estate; professional, scientific and technical; as well as administrative and support services, among others. (Text and infographic: ACN)

LINK To Gaceta Oficial Document (175 Pages In Spanish)

Recent Related Analyses

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically August 19, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective August 12, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned.August 07, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad August 06, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access August 05, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

August 19, 2021

DHS Secretary Mayorkas Visits Florida. Refuses To Answer Question Could Signal Biden Administration Considering Cuba Military Participation In Remittance Delivery

August 19, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

The Honorable Alejandro Mayorkas was sworn in as Secretary of the Department of Homeland Security (DHS) by President Joe Biden on February 2, 2021. Secretary Mayorkas is of Cuban descent.

Politico
Arlington, Virginia
19 August 2021

Excerpts: “Mayorkas was tight-lipped with reporters about the future of U.S.-Cuba policy. Asked why Biden’s policies so far looked less like those of President Obama, Biden's former boss when he was vice president, and more like the Trump policies that Biden had once pledged to scale back, Mayorkas wouldn’t say. "The Biden-Harris administration will develop its policy toward Cuba in support of the Cuban people with the Cuban-American community," he replied. Biden's Homeland Security secretary also said he would not comment on whether he supports efforts to prevent money from flowing directly or indirectly to the Cuban military, which controls the island’s economy — the heart of Trump’s Cuba policy.”

Remittance Background

Electronic remittance transfers arriving to the Republic of Cuba are processed by, delivered through, and create benefit for the government of the Republic of Cuba primarily through Revolutionary Armed Forces (FAR) of the Republic of Cuba-connected Grupo de Administración Empresarial S.A. (GAESA) which controls Republic of Cuba government-operated Banco Financiero Internacional S.A. (BFI), Republic of Cuba government-operated Financiera Cimex (Fincimex) and Republic of Cuba government-operated American International Services (AIS).

Perhaps, the Biden-Harris Administration (2021- ) is considering solely for the processing and delivery of electronic remittance transfers to authorize BFI, Fincimex, and AIS which are on the Cuba Restricted List (CRL) maintained by the United States Department of State. And limiting the percentage the three entities may collectively receive (currently less than 2% combined which is in line with global marketplace norms) and using direct correspondent banking to make the transactions direct rather than through third countries thus ensuring greater transparency. The Cuba Remittance Working Group (CRWG) is to deliver its recommendation(s) to The White House by 29 August 2021.

Twitter Feed From DHS

Secretary Alejandro Mayorkas @SecMayorkas Meeting with the Haitian American community in Miami again today, I expressed the Biden-Harris Administration’s steadfast commitment to ensuring the safety and well-being of Haitians as the country faces one tragedy after another.

Today in Miami, @SecMayorkas is joined by Juan Gonzalez, @WHNSC Sr. Director for the Western Hemisphere, and Mark Feierstein, Principal Advisor to @PowerUSAID, for engagements with the Cuban American and Haitian American communities.

The Biden Administration stands in solidarity with the Cuban people and their call for freedom. I join @POTUS in our commitment to holding the Cuban regime accountable, supporting the Cuban people, and ensuring Cuban Americans remain a vital partner in our efforts.

Secretary Alejandro Mayorkas @SecMayorkas I am on my way to Miami, where I will meet with both the Cuban American and Haitian American communities. I will also have the chance to pay my respects to the #Surfside victims, and thank dedicated Miami-Dade first responders.

The White House
Washington DC
28 January 2021

Press Briefing by Press Secretary Jen Psaki

”Q And if I may ask one more on Cuba: Do you guys plan on starting -- walking back all of those restrictions that were put into place under the Trump administration after the Obama administration had opened things up with Cuba?”

”MS. PSAKI: Well, our Cuba policy is governed by two principles. First, support for democracy and human rights. That will be at the core of our efforts. Second is Americans, especially Cuban Americans, are the best ambassadors for freedom in Cuba. So we'll review the Trump administration policies, as we are in a number of other areas of national security, with an eye to assure -- ensuring that our approach is aligned with that. But, you know, we will take our own path. I don't I don't have anything to predict for you at this point in time.”

Recent Analyses

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically Aug 19, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective Aug 12, 2021

Biden-Harris Administration Confirms Cuba "Remittance Working Group" Has No Private Sector Members Aug 12, 2021

Cuba Purchases Of U.S. Agricultural Commodity/Food Products Increase 94.4% Year-To-Year; June 2021 Increased 413% Compared To June 2020 Aug 8, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. Aug 7, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad Aug 6, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access Aug 5, 2021

European Union Member France's CMA CGM S.A. Is 41st Company Sued Using Libertad Act- Shipping To Cuba Through Jamaica And Using Port Mariel Aug 3, 2021

American Airlines Survives: Judge Quotes John Adams. Libertad Act Lawsuit Dismissed- Plaintiff Has Standing, But Inheritance Came Too Late. Aug 3, 2021

Judge In Libertad Act Lawsuit Against Seaboard Marine Dismisses 17 Plaintiffs; Remaining Plaintiff Wins Rulings- They Own The Property. Seaboard Trafficked And Knew It Was Trafficking. Settlement? Jul 31, 2021

President Biden Meets With Individuals Of Cuban Descent To Discuss Policy And Regulatory Options; Background Call Provides Details; White House Press Briefing Mentions Cuba Jul 30, 2021

U.S. Secretary Of State Speaks With Foreign Ministers Of Mexico And Spain. Cuba Does Not Come Up For Mexico Given Acts By Mexico's President? And Spain Does Not Confirm Cuba Was Discussed. Jul 30, 2021

August 19, 2021

Miami Herald: "Feds seized $2.7 million in cash from Florida travelers. There’s just one reason why" And Much Going To Cuba

August 19, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

Miami Herald
Miami, Florida
19 August 2021

Feds seized $2.7 million in cash from Florida travelers. There’s just one reason why

By Ariana Aspuru and Jay Weaver

Last year, $2.7 million in bulk cash was seized at Florida airports and ports. That’s a big uptick from 2020 federal seizures of $2 million in Florida, according to U.S. Customs and Border Protection.

Before boarding his flight in May from Fort Lauderdale to Panama, Lisandro Cadenas claimed he was only traveling with $3,000. U.S. Customs and Border Protection officers asked him both in English and Spanish to confirm how much money he was carrying, according to court documents. Again, Cadenas said $3,000.

When the customs officers searched his belongings, however, they found bundles of cash stashed in multiple places, including the front pocket of his jeans and in a handkerchief of a man’s purse. When the officers finished searching Cadenas, a lawful U.S. resident of Cuban descent, they counted more than $29,000 on him, according to a criminal complaint and affidavit. Cadenas, who faces federal trial at the end of August on charges of bulk-cash smuggling and making a false statement, lost all his money because he was required to declare it under U.S. law.

Customs officers seized his cash — a haul that added to more than $2.7 million that was confiscated from U.S. and foreign travelers who didn’t legally declare the money at Florida airports and ports this fiscal year, which ends next month. That’s a big uptick from 2020 federal seizures of $2 million in Florida, according to U.S. Customs and Border Protection.

Federal law states that travelers can bring as much money as they want when they travel in or out of the country, but they need to declare anything over $10,000 to U.S. Customs and Border Protection. Travelers who fail to declare their funds risk getting the money taken away by customs officers — but the seizure statistics suggest more people still try to slip big wads of cash past federal agents.

In March, a Cuban couple was stopped at Miami International Airport by customs officers before boarding a Swift Air flight to Cuba. Miguel Angel Del Rosario and Rachel De La Caridad Garcia declared they were carrying $8,000 in cash on the trip, but then only produced $5,104 when asked to show the funds in their two suitcases and two carry-on bags, according to a criminal complaint and affidavit. The customs officers searched their luggage and found a total of $105,469 hidden in their clothes. The couple’s money was seized, and they pleaded guilty to bulk-cash smuggling in June. They face sentencing in September.

In Florida, Miami International Airport, recognized as a hub for cash, contraband and drug smuggling, ranks among the top five in the United States for federal seizures of money from travelers who don’t legally declare it — a sum totaling $91.5 million at MIA between 2000 and 2016, according to a report by the Institute for Justice, a Virginia-based law firm that specializes in efforts to recover civil forfeitures by the government.

The airport seizure report, based on statistics from a Treasury Department’s forfeiture database, focuses on travelers whose money was taken by Customs and Border Protection officers. Their typical crime: a failure to file required paperwork, FinCEN Form 105, declaring more than $10,000 in cash upon entering or leaving the country.

The report — titled “Jetway Robbery? Homeland Security and Cash Seizures at Airports” — says that customs officers seized $2 billion in more than 30,000 seizures at U.S. airports over a 17-year period. A big chunk of that total, $500 million, was confiscated only because American and foreign travelers failed to declare more than $10,000 in cash — not because the seizure was connected to serious criminal activity.

In response to the report’s findings, U.S. Customs and Border Protection said travelers must obey the cash reporting law and the agency must enforce it. The only two expectations that CBP has of travelers is that they truthfully report all currency that they possess to a CBP officer, and that they complete a U.S. Treasury Department form (FINCEN 105) for all currency and other monetary instruments that exceed $10,000, the agency said.

“The disregard that some travelers have for our nation’s currency reporting laws is a concern and very unwise, especially when you consider travelers can keep their currency simply by just being honest and declaring the full amount to a Customs and Border Protection officer,” said Zach Mann, an agency spokesman in South Florida.

“CBP’s mission is to protect our nation, its citizens, residents and economy from criminal and terrorist activity,” Mann said. “As an agency, and as individual officers, we want to spend our time effectively and efficiently going after those with bad intentions. Part of the equation for all of our success is informed compliance by the traveler. When travelers know the law and comply then CBP can better focus on the bad guys.”

Cadenas’ encounter with customs officers at Fort Lauderdale’s airport is a case in point. When pressed about why he was traveling with more than $29,000 in cash, Cadenas said he was planning to board a connecting flight from Panama to Cuba and then buy a car on the island, according to court records. But he also confessed that some of the money was part of a business arrangement where he and his wife transfer money from the U.S. to Cuba, records show. He said he only declared $3,000 to customs officers in Fort Lauderdale because he was worried about Cuban officials taking his cash. Instead, the U.S. government seized because agents said he didn’t declare the full total.

One month before the feds seized Cadenas’ cash, Quashad Peterson Taylor lost a massive amount of money to customs officials at Fort Lauderdale Executive Airport as his chartered flight was about to leave for the Bahamas. Customs and Border Patrol and Homeland Security Investigations inspected the plane from Tropical Air Charters Inc. Taylor was a passenger with two crew members who all shook their heads when investigators asked if they had more than $10,000 in their possession, according to a criminal complaint and affidavit. Taylor said he only had $100 in a gray backpack in the cargo area. Records indicated that Taylor was also suspected of traveling with bulk cash in 2018. This time, officers searched the plane and found three large plastic bins filled with wrapped bundles of cash, rubber bands and empty money storage bags, according to the affidavit. More money was also found in Taylor’s fanny pack.

After the search of the plane in April, Taylor filled out a currency reporting form and wrote how he was transporting more than $1,000,000 on the flight to the Bahamas. He claimed all the money belonged to him, according to the criminal affidavit. Customs officers seized the money, which will be forfeited at his upcoming sentencing and turned over to the U.S. government. Taylor pleaded guilty to bulk cash smuggling last month and will face sentencing in mid-October, said his lawyer, Nayib Hassan. He declined to comment about the case.

Relevant Analyses

If Western Union Ends Remittance Services To Cuba, That Means A Return Of “Mules On Steroids”- The Impact Could Cripple MIA November 16, 2020

Western Union Data For Transfers To Cuba: 2.88 Million Annually- 24% To Havana; Florida 1st, Texas 2nd, New Jersey 3rd; US$200,000+ Could Be Aboard Each Flight From Miami November 19, 2020

Will United States Airlines Now Post A Link To FinCEN Form 105 On Their Internet Sites For Passengers Traveling To Cuba? November 23, 2020

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective Aug 12, 2021

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically Aug 19, 2021

Biden-Harris Administration Confirms Cuba "Remittance Working Group" Has No Private Sector Members Aug 12, 2021

Cuba Purchases Of U.S. Agricultural Commodity/Food Products Increase 94.4% Year-To-Year; June 2021 Increased 413% Compared To June 2020 Aug 8, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. Aug 7, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad Aug 6, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access Aug 5, 2021

European Union Member France's CMA CGM S.A. Is 41st Company Sued Using Libertad Act- Shipping To Cuba Through Jamaica And Using Port Mariel Aug 3, 2021

American Airlines Survives: Judge Quotes John Adams. Libertad Act Lawsuit Dismissed- Plaintiff Has Standing, But Inheritance Came Too Late. Aug 3, 2021

President Biden Meets With Individuals Of Cuban Descent To Discuss Policy And Regulatory Options; Background Call Provides Details; White House Press Briefing Mentions Cuba Jul 30, 2021

August 19, 2021

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically

August 19, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

The partial collapse of the Republic of Cuba government-operated healthcare system managed by the Diaz-Canel-Valdes Mesa Administration (2019- ) has provided additional questions and additional opportunities for the Biden-Harris Administration (2021- ). Can citizen anger be managed?

First, how to craft an electronic remittance transfer regulatory and policy construct which is perceived in the United States (specifically from some members of the 117th United States Congress and to populations residing in certain areas of the State of Florida) as “helping to rescue” the 11.3 million citizens of the Republic of Cuba while not perceived as “helping to rescue” the government of the Republic of Cuba.
Second, how to craft an electronic remittance transfer regulatory and policy construct whereby Republic of Cuba nationals direct responsibility toward the government of the Republic of Cuba for commercial, economic, and political inadequacies rather than toward the government of the United States.
Third, opportunities exist that were absent two months ago for the Biden-Harris Administration to further lessen the dependency of Republic of Cuba nationals upon the government of the Republic of Cuba. One of these opportunities is through the implementation of a regulatory and policy construct to authorize direct investment to and direct financing for the re-emerging private sectors in the Republic of Cuba, which are fragile and subject to internal and external disruption. They require nurturing. They require resources. They require capital. They require financing. And those providing the capital and the financing require a direct means to obtain dividends from their investment and payment for the loans provided.

The most efficient and cost-effective means for the Biden-Harris Administration to further separate the citizens of the Republic of Cuba from the commercial and economic constraints of the government of the Republic of Cuba is to provide financial sector authorizations that encourage the development of and create an efficient resource delivery marketplace.

If the Biden-Harris Administration wants to meaningfully provide for United States-based companies and individuals subject to United States jurisdiction to invest in and provide financing for micro, small and medium-size enterprises (SME’s) located in the Republic of Cuba, then essential to remove constraints upon the movement of funds.

This requires sending and receiving funds directly rather than through third countries. This requires financial institutions in third countries be authorized to process transactions relating to the Republic of Cuba.

If the Biden-Harris Administration wants to create stress points throughout the banking system in the Republic of Cuba, then [from its current impractical status] authorize Direct Correspondent Banking and U-turn transactions.

Critical to Biden-Harris Administration thinking: Not to sacrifice the re-emerging private sectors in the Republic of Cuba to make a political point. Meaning, escape the trap of authorizing the processing, delivery, and distribution of electronic remittance transfers, authorizing implementation of direct correspondent banking, re-authorizing U-turn financial transactions… but doing each with onerous restrictions that results in United States companies and financial institutions unable to make practical use of the regulatory and policy decisions. All participants require clarity rather than uncertainty. When faced with uncertainty, United States companies and financial institutions will not engage.

The best example of such regulatory malpractice was during the Obama-Biden Administration (2009-2017). In 2015, the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury authorized Pompano Beach, Florida-based Stonegate Bank (2017 assets approximately US$2.9 billion) to have a correspondent account with Republic of Cuba government-operated Banco Internacional de Comercia SA (BICSA), a member of Republic of Cuba government-operated Grupo Nuevo Banca SA, created by Corporate Charter No. 49 on 29 October 1993 and commenced operation on 3 January 1994. Stonegate Bank provided commercial operating accounts for the Embassy of the Republic of Cuba in Washington DC, the Permanent Mission of the Republic of Cuba to the United Nations in New York City, and other types of OFAC-authorized transactions for more than eighty customers. In September 2017, Stonegate Bank was purchased by Conway, Arkansas-based Home BancShares (2019 assets approximately US$14 billion) through its Centennial Bank subsidiary. Despite intense advocacy, the Obama-Biden Administration National Security Council (NSC) inexplicably refused to permit BICSA a correspondent account with Stonegate Bank, so Stonegate Bank processed transactions for approximately eighty (80) customers on a regular basis through Panama City, Panama-based Multibank, which had dealings with the Republic of Cuba. However, on 16 June 2020, Bogota, Colombia-based Grupo Aval reported: “On May 25th, Banco de Bogotá, through its subsidiary Leasing Bogotá S.A. Panamá, acquired 96.6% of the ordinary shares of Multi Financial Group. As part of the acquisition process, MFG’s operation in Cuba was closed and as part of the transaction. Grupo Aval complies with OFAC regulations and doesn't have transactional relationships with Cuba.”

The OFAC should focus upon making the most basic possible. This means electronic transfer remittances where the recipient receives their choice of currency- in Cuban Pesos (CUP) or United States Dollars and bank account to bank account. Don’t complicate the process.

Also vital for the Biden-Harris Administration to authorize United States companies and individuals subject to United States jurisdiction with access to all delivery platforms that currently exist in the Republic of Cuba- whether sending funds to the Republic of Cuba government-operated American International Services (AIS) Moneda Libremente Convertible (MLC) cards, through Empresa de Telecomunicaciones de Cuba S.A. (ETECSA) to wireless devices, or the use of digital currencies. Caution with respect to supporting the use of digital currencies as the product remains unregulated, volatile in value, speculative, and susceptible to theft. Not beneficial for the Biden-Harris Administration to introduce further economic and commercial instability to the Republic of Cuba- for which it will certainly be blamed when holders loose value.

The OFAC could require payout (in currency and bank account to bank account) in the Republic of Cuba to be made in U.S. Dollars or CUP, at the discretion of the recipient. The result would place pressure upon the Central Bank of the Republic of Cuba to further align the official value of the CUP at 24 to US$1.00 nearer to the unofficial rate of the CUP at 70 to the US$1.00. Authorizing direct correspondent banking would permit electronic remittance transfers to settle respective accounts within hours rather than days- meaning a process less expensive, more efficient, and more transparent.

The OFAC could place a “consistent with the global marketplace limit” upon electronic remittance transfer fees arriving to the Republic of Cuba that are processed by and create benefit to the government of the Republic of Cuba primarily through Revolutionary Armed Forces (FAR) of the Republic of Cuba-connected Banco Financiero Internacional S.A. (BFI), Republic of Cuba government-operated Financiera Cimex (Fincimex) and Republic of Cuba government-operated American International Services (AIS).

The OFAC could also carve-out from the Cuba Restricted List (CRL) maintained by the United States Department of State an authorization for BFI, Fincimex, and AIS to engage solely in electronic remittance transfers, but remain subject to all other provisions of the CRL.

Seizing Funds Remains Issue For Financial Institutions

The use of direct correspondent banking could result in an attorney on behalf of a client asking a court to seize funds controlled by a United States-based company or financial institution with the argument that the Republic of Cuba “has an interest” in the funds. However, there are two relevant points:

First, important to authorize direct correspondent banking and then allow the marketplace to determine the risk associated with transactions and when direct correspondent banking is implemented.

Second, an attorney would find that case law, OFAC license wording authorizing the process, the public benefits of direct correspondent banking, and public discourse about the consequences to United States exporters of expropriating funds owed to them as persuasive in deterring a request.

Since December 2001, approximately US$6,455,169,592.00 (through June 2021) of agricultural commodities and food products have been exported from the United States to the Republic of Cuba through provisions of the Trade Sanctions Reform and Export Enhancement Act (TREEA) of 2000. Since 2003, approximately US$26,807,700.00 of healthcare products (medical equipment, medical instruments, medical supplies, pharmaceuticals) have been exported from the United States to the Republic of Cuba through provisions of the Cuban Democracy Act (CDA) of 1992. All of these funds have been received by United States exporters through third countries rather than directly from the Republic of Cuba. As a result, transactions take more time to complete, are more costly to the United States exporter, and are less transparent.
The government of the Republic of Cuba was estimated to receive on an annual basis approximately US$20 million as fees for the processing and delivery of electronic remittance transfers from the United States to the Republic of Cuba. The approximately US$20 million represented approximately 2% of the total value of electronic remittance transfers of approximately US$1.5 billion. The approximately 2% was in line with global norms. Daily, the fee to the Republic of Cuba was approximately US$54,000.00. If the OFAC were to authorize direct correspondent banking, then Denver, Colorado-based Western Union Company (2019 revenues approximately US$5.3 billion) and other companies could settle accounts daily, thus limiting the amount of funds which could be subject to court action.
The Central Bank of the Republic of Cuba may determine that making operational direct correspondent banking between, for example, BICSA and Home BancShares, BICSA and Western Union Company, or BFI and Western Union Company would not be in their interest due to United States statutes and regulations relating to compliance and transparency which, in their opinion, may result in financial information used to their determent. Important to permit the Central Bank of the Republic of Cuba to make that decision rather than the Biden-Harris Administration make that decision. Removal of obstacles places additional pressures upon the government of the Republic of Cuba to choose between engagement under conditions similar to how financial institutions in other countries make use of direct correspondent banking or continue with the third-country transfer process.

Historical Consideration

Conditionality, important to note, was neither effective nor sustainable during the Fidel Castro Administration (1976-2008), the Raul Castro Administration (2008-2018), or thus far with the Diaz-Canel-Valdes Mesa Administration.

Paraphrasing a comment shared in the early 1990’s from a diplomat residing in the Republic of Cuba: Successive governments of the Republic of Cuba have been prepared for its citizens to suffer. For the Biden-Harris Administration, the question is if it is prepared to permit the citizens of the Republic of Cuba to suffer.

LINK To Complete Analysis In PDF Format

Relevant Analyses

If Western Union Ends Remittance Services To Cuba, That Means A Return Of “Mules On Steroids”- The Impact Could Cripple MIA November 16, 2020

Western Union Data For Transfers To Cuba: 2.88 Million Annually- 24% To Havana; Florida 1st, Texas 2nd, New Jersey 3rd; US$200,000+ Could Be Aboard Each Flight From Miami November 19, 2020

Will United States Airlines Now Post A Link To FinCEN Form 105 On Their Internet Sites For Passengers Traveling To Cuba? November 23, 2020

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective Aug 12, 2021

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically Aug 19, 2021

Biden-Harris Administration Confirms Cuba "Remittance Working Group" Has No Private Sector Members Aug 12, 2021

Cuba Purchases Of U.S. Agricultural Commodity/Food Products Increase 94.4% Year-To-Year; June 2021 Increased 413% Compared To June 2020 Aug 8, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. Aug 7, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad Aug 6, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access Aug 5, 2021

European Union Member France's CMA CGM S.A. Is 41st Company Sued Using Libertad Act- Shipping To Cuba Through Jamaica And Using Port Mariel Aug 3, 2021

American Airlines Survives: Judge Quotes John Adams. Libertad Act Lawsuit Dismissed- Plaintiff Has Standing, But Inheritance Came Too Late. Aug 3, 2021

President Biden Meets With Individuals Of Cuban Descent To Discuss Policy And Regulatory Options; Background Call Provides Details; White House Press Briefing Mentions Cuba Jul 30, 2021

August 17, 2021

Iberostar Of Spain Continues To Await Decision By European Commission- How Much More Time Will U.S. Court Permit?

August 17, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

MARIA DOLORES CANTO MARTI, AS PERSONAL REPRESENTATIVE OF THE ESTATES OF DOLORES MARTI MERCADE AND FERNANDO CANTO BORY V. IBEROSTAR HOTELES Y APARTAMENTOS SL [1:20-cv-20078; Southern Florida District]

Zumpano Patricios P.A. (plaintiff)
Bird & Bird (defendant)
Holland & Knight (defendant)

LINKS
Defendant's Status Report (18 August 2021)
Plaintiff's Notice Of Appeal (1 June 2021)
Plaintiff's 11th Circuit Court Of Appeals Confirmation (3 June 2021)

Libertad Act Lawsuit Filing Statistics

August 15, 2021

USDOT Authorizes Cargo Flights From United States To Six Airports In Cuba Through 30 November 2021

August 15, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

On 14 July 2021, the United States Department of Transportation (USDOT) granted an Emergency Exemption to Skyway Enterprises, Inc. and IBC Airways, Inc. to operate cargo flights from the United States to the Republic of Cuba through 30 November 2021. Swift Air LLC is awaiting authorization.

Excerpts:

“Skyway requests an emergency exemption from Order 2020-8-4, in order to operate up to two weekly all-cargo charter operations to transport humanitarian aid and diplomatic cargo between Miami, Florida, and Havana, Cuba, using small aircraft, from September 29, 2021, to November 30, 2021. Skyway also requests emergency exemption authority to operate up to one weekly all-cargo charter operation to transport humanitarian aid, using small aircraft, from Miami to any of the following additional points in Cuba: Santiago de Cuba, Matanzas/Varadero, Holguin, Santa Clara, and Camagüey, between July 22, 2021, and November 30, 2021.

In support of its request, Skyway states that the proposed operation is a continuation of its previously approved operation to carry humanitarian aid, and that U.S. officials in Cuba are requesting that Skyway transport diplomatic cargo to the U.S. Embassy in Cuba. Skyway asserts that its proposed operation would satisfy two exceptions noted in Order 2020-8-4, that permit certain charter operations for “emergency medical purposes…, and other travel deemed to be in the interest of the United States.”

Skyway Enterprises is operating two flights per week. IBC is expected to commence soon.

Background: By Order 2020-8-4, issued August 13, 2020, the Department suspended the authority of all U.S. air carriers and foreign air carriers to provide charter flights between the United States and all airports in Cuba, except for authorized public charters to and from Havana and other authorized charter flights for emergency medical purposes, search and rescue, and other travel deemed to be in the interest of the United States. The Department issued Order 2020-8-4 at the request of the U.S. Department of State, following the receipt of a letter from then-Secretary of State Michael R. Pompeo to then-Secretary of Transportation Elaine L. Chao, stating that:

To advance the Administration’s policy to strengthen the economic pressure on the Cuban regime as a means to restrict the regime’s ability to repress its people and support the illegitimate Maduro regime in Venezuela, and in the foreign-policy interests of the United States, I respectfully request that the Department of Transportation suspend until further notice all charter flights between the United States and all airports in Cuba over which the Department of Transportation exercises jurisdiction, except for authorized public charters to and from Havana, and other authorized charter flights for emergency medical purposes, search and rescue, and other travel deemed to be in the interest of the United States.

Accordingly, the Department found that it was in the public interest to suspend the charter authority of all U.S. and foreign carriers to the extent necessary to prohibit charter operations between the United States and Cuba as set forth in the Order.

Decision: We have decided to grant Skyway’s application for an exemption from Order 2020-8-4 to operate the proposed charter flights. Our action in Order 2020-8-4 suspending carriers’ U.S.-Cuba charter authority was taken at the request of the U.S. Department of State, and it incorporated the Department of State’s language as to permitted exceptions.

We take note of the assertion made by Skyway that the flights should be permitted under the Order’s exceptions. Those exceptions, as discussed above, were expressly derived from the Department of State letter upon which the DOT suspension action was predicated. Accordingly, we consulted with the Department of State to determine whether they regard the proposed Skyway flights as coming within the Order’s specified exceptions.

The Department of State provided its view that the application does fall within the Order’s specified exceptions. The Department of State also noted its willingness to review future exemption requests to determine whether proposed flights fall within the scope of its specified exceptions as set forth in DOT’s Order 2020-8-4, namely: emergency medical purposes, search and rescue, and other travel deemed to be in the interest of the United States. Against this background, we find that it would be in the public interest to grant the requested exemption from Order 2020-8-4 to operate the proposed all-cargo charter flights.

As a final matter, we remind the applicant that a number of significant limitations and requirements remain in place concerning air transportation between Cuba and the United States. Nothing in the Department’s award of authority will relieve any party from complying with all applicable regulations and requirements of other U.S. agencies and with all applicable laws of the United States.

To the extent not granted, we denied all requests in the referenced application. We may amend, modify, or revoke the authority granted in this Notice at any time without hearing at our discretion.”

LINKS:

Application of Swift Air, L.L.C. d/b/a iAero Airways for an Emergency Exemption from Orders 2020-5-7 and 2020-8-4 (10 August 2021)

Application Of Swift Air, L.L.C. D/B/A iAero Airways For An Emergency Exemption And Motion To Shorten Answer Period (6 August 2021)

USDOT Notice Of Action Taken- Skyway Enterprises, Inc. (23 July 2021)

USDOT Notice Of Action Taken- Skyway Enterprises, Inc. (14 July 2021)

Application Of IBC Airways, Inc. For An Emergency Exemption (8 July 2021)

Application Of Swift Air, L.L.C. D/B/A iAero Airways For An Emergency Exemption And Motion To Shorten Answer Period (6 July 2021)

August 12, 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective

August 12, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

A binary decision: The Biden-Harris Administration (2021- ) and Diaz-Canel-Valdes Mesa Administration (2019- ) each have two choices with respect to the delivery of electronic remittance transfers from the United States to the Republic of Cuba:

For the Biden-Harris Administration the choice is to accept or reject a role for the government of the Republic of Cuba, and “government” includes entities controlled by the Revolutionary Armed Forces (FAR) of the Republic of Cuba.
For the Diaz-Canel-Valdes Mesa Administration the choice is to continue or discontinue a role for the government of the Republic of Cuba, and “government” includes entities controlled by the Revolutionary Armed Forces (FAR) of the Republic of Cuba.

That’s it.

There are no means to remove the government of the Republic of Cuba from the processing, distribution, delivery, and use of funds delivered to the Republic of Cuba whether by electronic remittance transfers or any other means. The government of the Republic of Cuba will benefit. The United States government can do nothing about it. Here’s why:

The government of the Republic of Cuba requires as do most countries that transactions within its territory be conducted in the national currency, the Cuban Peso (CUP).
The government of the Republic of Cuba, through its Central Bank, as in many countries, determines the exchange rate for the currency. The CUP is currently valued at 24 to US$1.00. The CUP in the informal market is valued at 70 to US$1.00. There is anticipation that the CUP may be devalued by the end of 2021. Two illustrative examples: The Hashemite Kingdom of Jordan has for years maintained erroneously that its currency, the Dinar, is worth more than the United States Dollar. The People’s Republic of China has for years maintained an exchange rate for its currency, the Renminbi, that the United States Government believes is undervalued. The Republic of Cuba is not the only country maintain a currency valuation that is not consistent with global economic norms.
The government of the Republic of Cuba owns and manages the majority of retail stores and service providers and establishes the prices for products and services. Not uncommon for retail prices for products to be 200% or more above cost.

Since November 2020, when the Trump-Pence Administration (2017-2021) determined that no longer was it the interest of the United States for electronic remittance transfers to be processed and distributed by entities that it maintained were controlled by the FAR, the Diaz-Canel-Valdes Mesa Administration has not agreed to shift from entities controlled by the FAR the processing and distribution of electronic remittance transfers. As of August 2021, there remains no indication that the decision taken in November 2020 will be reversed.

It’s 2%- US$20 million

The government of the Republic of Cuba is estimated to receive on an annual basis approximately US$20 million as fees for the processing and delivery of electronic remittance transfers from the United States to the Republic of Cuba.

The approximately US$20 million represents approximately 2% of the total value of electronic remittance transfers of approximately US$1.5 billion. The 2% is in line with global norms.

For financial perspective as to what approximately US$20 million means in terms of the commercial relationship between the Republic of Cuba and the United States:

United States exports of agricultural commodities and food products to the Republic of Cuba in January 2021 were US$19,018,549.00 and in February 2021 were US$21,242,700.00.
United States exports of agricultural commodities and food products to the Republic of Cuba thus far in 2021 (January-June) were US$159,942,168.00; for 2020 were US$163,354,728.00; and for 2019 were US$257,659,479.00.
From 2003 through June 2021, United States exports of medical equipment, medical instruments, medical supplies, and pharmaceuticals is US$26,807,700.00

The approximately US$20 million in fees is divided amongst three Republic of Cuba government-operated entities. All electronic remittance transfers arriving to the Republic of Cuba are processed by and create benefit to the government of the Republic of Cuba primarily through FAR-connected Republic of Cuba government-operated Banco Financiero Internacional S.A. (BFI), Republic of Cuba government-operated Financiera Cimex (Fincimex) and Republic of Cuba government-operated American International Services (AIS).

One option under consideration is for the Diaz-Canel-Valdes Mesa Administration to permit electronic remittance transfer fees to remain in a segregated account in the United States where the fees would be used to make payment for authorized exports from the United States. The Republic of Cuba would use funds for purchases that it deems necessary with payment solely moving within the United States, resulting in transfers that are more efficient and transparent.

There are obstacles to such a plan. If Denver, Colorado-based Western Union Company (2019 revenues approximately US$5.3 billion) were to retain the fees for the benefit of the government of the Republic of Cuba, attorneys representing clients with outstanding court judgements would likely attempt to seize the fees to satisfy past or future court-issued judgements against the Republic of Cuba. Even if the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury were to issue a specific license to Western Union Company to retain the fees or create a fee account and provide regulatory considerations to protect the account, attorneys would likely seek a judicial review because Western Union Company could be deemed to “have an interest” in funds belonging to the Republic of Cuba, thus incurring legal costs to Western Union Company.

Another option under consideration is to suspend all fees for electronic remittance transfers from the United States to the Republic of Cuba through 31 December 2021. The suspension would align with the duration for decisions by government of the Republic of Cuba to suspend certain duties and fees on imported products. A shorter in duration suspension of all fees would front-load electronic remittance transfers from the United States to the Republic of Cuba as senders seek to avoid fees. The result would be a politically challenging for the Biden-Harris Administration financial windfall for the government of the Republic of Cuba.

There are decisions the OFAC could take that would enhance or complicate the electronic remittance transfer process. The goal should be for regulations to align with global commercial norms and thus lessen the possibility the Republic of Cuba will reject any decision delivered from the Biden-Harris Administration:

The OFAC could require that companies subject to United States jurisdiction engaged in electronic remittance transfers to the Republic of Cuba make the payout in United States Dollars to the recipient in the Republic of Cuba- fostering a dollarization of the commercial and economic systems in the Republic of Cuba. This would then require the recipient to exchange the United States Dollars for CUP at the exchange rate established by the Central Bank of the Republic of Cuba.
The OFAC could require companies subject to United States jurisdiction engaged in electronic remittance transfers to limit the fee(s) paid to Republic of Cuba government-operated entities. Currently, the fee paid by Western Union Company to Fincimex, AIS, and BFI total approximately 2%, which is in line with global commercial norms.
The OFAC could require companies subject to United States jurisdiction engaged in electronic remittance transfers to the Republic of Cuba to provide quarterly reports to the OFAC and United States Department of State. The reports would need be exempt from requests using the Freedom of Information Act (FOIA) and include the total amount transferred from the United States to the Republic of Cuba and the amount of fees paid to Republic of Cuba government-operated entities.
The OFAC could require companies subject to United States jurisdiction engaged in electronic remittance transfers to the Republic of Cuba to use Direct Correspondent Banking for the transfer of funds from the United States to the Republic of Cuba rather than through third countries which is less transparent, less efficient, less secure.

In 2015, the OFAC authorized Pompano Beach, Florida-based Stonegate Bank (2017 assets approximately US$2.9 billion) to have a correspondent account with Republic of Cuba government-operated Banco Internacional de Comercia SA (BICSA), a member of Republic of Cuba government-operated Grupo Nuevo Banca SA, created by Corporate Charter No. 49 on 29 October 1993 and commenced operation on 3 January 1994. Stonegate Bank provided commercial operating accounts for the Embassy of the Republic of Cuba in Washington DC, the Permanent Mission of the Republic of Cuba to the United Nations in New York City, and other types of OFAC-authorized transactions for more than eighty customers. In September 2017, Stonegate Bank was purchased by Conway, Arkansas-based Home BancShares (2019 assets approximately US$14 billion) through its Centennial Bank subsidiary. Despite intense advocacy, the Obama-Biden Administration National Security Council (NSC) inexplicably refused to permit BICSA a correspondent account with Stonegate Bank, so Stonegate Bank processed transactions for approximately eighty (80) customers on a regular basis through Panama City, Panama-based Multibank, which had dealings with the Republic of Cuba. However, on 16 June 2020, Bogota, Colombia-based Grupo Aval reported: “On May 25th, Banco de Bogotá, through its subsidiary Leasing Bogotá S.A. Panamá, acquired 96.6% of the ordinary shares of Multi Financial Group. As part of the acquisition process, MFG’s operation in Cuba was closed and as part of the transaction. Grupo Aval complies with OFAC regulations and doesn't have transactional relationships with Cuba.”

LINK To Complete Analysis In PDF Format

Recent Cuba Analyses

U.S. Department Of State Memorandum: The 17 Company Members Of The CRWG- Moving Remittances And Using Remittances; Cuba Entities Need Be Part Of The Process July 26, 2021

Biden-Diaz-Canel Remittance Compromise: U.S. And Cuba Companies Suspend Transaction Fees Until 31 December 2021. Impact On 800 Publix Markets July 27, 2021

Biden-Harris Administration Confirms Cuba "Remittance Working Group" Has No Private Sector Members August 12, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. Aug 7, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad Aug 6, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access Aug 5, 2021

Cuba Suspends Tariffs And Fees For Non-Commercial (SME's Next?) Solar Systems. Another Opportunity For Biden-Harris Administration To Support U.S. Exporters And Florida Companies Should Benefit. Jul 30, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

Biden Administration Wants To Deny Cuba's Government (Military) With Earnings- Conditional Resumption Of Product Filled Flights To Airports In Cuba Benefits Self-Employed; By-In From Congress? July 19, 2021

Is Biden-Harris Administration Nearing Decision To Reverse Trump-Pence Administration Prohibition On Cuba Military Earning Money From Remittances? July 15, 2021

The Word For Today Is "cuentapropistas" And It Is The Fulcrum Around Which Biden Administration Cuba Policy Revolves May 20, 2021

Remittances: Will Biden-Harris Administration Repeat Mistakes Of Obama-Biden Administration And Learn From Mistakes Of Trump-Pence Administration? No Triangles. Yes Loans. Yes Investments. May 18, 2021

Cuba Central Bank May Provide Option For Western Union To Continue Services To Cuba: REDSA November 26, 2020

Western Union Data For Transfers To Cuba: 2.88 Million Annually- 24% To Havana; Florida 1st, Texas 2nd, New Jersey 3rd; US$200,000+ Could Be Aboard Each Flight From Miami November 19, 2020

If Western Union Ends Remittance Services To Cuba, That Means A Return Of “Mules On Steroids”- The Impact Could Cripple MIA November 16, 2020

At 6:00 PM Today, Final [For Now] Western Union Transactions With Cuba Are [Temporarily Perhaps] Suspended November 23, 2020

Will United States Airlines Now Post A Link To FinCEN Form 105 On Their Internet Sites For Passengers Traveling To Cuba? November 23, 2020

Trump Administration Executive Order About China Military Will Impact Biden Administration Decisions About Cuba Military November 17, 2020

Cuba Has Options To Retain Western Union Electronic Remittance Services- Transfer To A Bank? November 16, 2020

Western Union Preparing To End Money Transfers To Cuba On 22 November 2020.... Will Cuba Permit It?November 13, 2020

August 12, 2021

Biden-Harris Administration Confirms Cuba "Remittance Working Group" Has No Private Sector Members

August 12, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

From a United States Department Of State spokesperson:

"The Administration has formed a U.S. governmental Remittance Working Group to review available options to establish remittance channels so that the Cuban people receive the maximum benefit from remittances their families send. At the President’s direction the State Department and the Treasury Department will provide recommendations to the President for how to maximize remittances to the Cuban people, while minimizing or eliminating the Cuban military’s ability to take a cut."

Biden-Harris Administration (2021- ) officials familiar with the process confirm that the members of the Remittance Working Group are United States Government employees.

Reasonable to conclude members of the Remittance Working Group include United States Government employees from The White House (including National Security Council), United States Department of State, United States Department of the Treasury, United States Department of Defense, United States Department of the Treasury, United States Department of Commerce, United States Department of Justice, and Central Intelligence Agency.

Recent Cuba Analyses

U.S. Department Of State Memorandum: The 17 Company Members Of The CRWG- Moving Remittances And Using Remittances; Cuba Entities Need Be Part Of The Process July 26, 2021

Biden-Diaz-Canel Remittance Compromise: U.S. And Cuba Companies Suspend Transaction Fees Until 31 December 2021. Impact On 800 Publix Markets July 27, 2021

Defining "Transformative"- Cuba Ratifies Decree-Law Authorizing SME's: Micro (1-10 employees), Small (11-35 employees), Medium (35-100 employees). The Private Sector Has Returned. Aug 7, 2021

Cuba Links Resumption Of Remittances From United States To Expanding Investment Opportunities For Cuban Residents Abroad Aug 6, 2021

Cuba Expands Again Role Of Private Sector- Suppliers, Foreign Currency Access Aug 5, 2021

If A Product Costs At Least 2,500 Pesos (US$104.16), Customers In Cuba Now May Obtain Financing: Terms Are 2.5% Interest With 20% Down July 24, 2021

Is Biden-Harris Administration Nearing Decision To Reverse Trump-Pence Administration Prohibition On Cuba Military Earning Money From Remittances? July 15, 2021

Cuba Central Bank May Provide Option For Western Union To Continue Services To Cuba: REDSA November 26, 2020

Western Union Data For Transfers To Cuba: 2.88 Million Annually- 24% To Havana; Florida 1st, Texas 2nd, New Jersey 3rd; US$200,000+ Could Be Aboard Each Flight From Miami November 19, 2020

If Western Union Ends Remittance Services To Cuba, That Means A Return Of “Mules On Steroids”- The Impact Could Cripple MIA November 16, 2020

At 6:00 PM Today, Final [For Now] Western Union Transactions With Cuba Are [Temporarily Perhaps] Suspended November 23, 2020

Will United States Airlines Now Post A Link To FinCEN Form 105 On Their Internet Sites For Passengers Traveling To Cuba? November 23, 2020

Trump Administration Executive Order About China Military Will Impact Biden Administration Decisions About Cuba Military November 17, 2020

Cuba Has Options To Retain Western Union Electronic Remittance Services- Transfer To A Bank? November 16, 2020

Western Union Preparing To End Money Transfers To Cuba On 22 November 2020.... Will Cuba Permit It? November 13, 2020

August 11, 2021

United States Department Of State Spokesperson References Cuba

August 11, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

The United States Department of State
Washington DC
11 August 2021

Briefing- Ned Price

Today marks one month since the Cuban people took to the streets, making a call for freedom heard around the world. The Cuban Government responded with a brutal wave of repression unseen in decades. As of today, over 800 Cubans have been reported detained for peacefully demonstrating on July 11th. By some accounts, there may be hundreds more. Many are held incommunicado, without access to family or legal representation; secret, summary judicial proceedings lack fair trial guarantees and seek to repress, to silence, and make examples of anyone who added their voice to peaceful protests on July 11th.

The Government of Cuba denies this systematic abuse of human rights and refuses access to international observers. Cuba’s leaders are counting on the world to turn a blind eye to their repression. The world must not look away. The United States will not look away. We join the families who are suffering and scared, Cuba’s human rights defenders, and those who share our concern around the world in calling for the immediate release of all those detained or missing for merely exercising their rights to freedom of expression and peaceful assembly.

Addressing the ongoing crisis in Cuba is a top priority. At President Biden’s direction, the U.S. Government is actively focused on providing support to the Cuban people, whether it is facilitating humanitarian assistance or information access. We’ve brought to bear the strength of international diplomacy, rallying nations around the world to speak out in support of the Cuban people and in condemnation of the regime’s violent response to the protests. And we are holding the repressors accountable for human rights abuses through the Global Magnitsky sanctions program.

1200px-U.S._Department_of_State_official_seal.svg.png

August 11, 2021

OFAC Publishes "Fact Sheet" About The Internet And Cuba

August 11, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

Publication of Fact Sheet on Supporting the Cuban People’s Right to Seek, Receive, and Impart Information through Safe and Secure Access to the Internet

On August 11, 2021, the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) and Department of Commerce's Bureau of Industry and Security (BIS) issued a Fact Sheet to emphasize the U.S. government’s commitment to promoting the ability of the Cuban people to seek, receive, and impart information, by highlighting the most relevant exemptions and authorizations pertinent to supporting the Cuban people through the provision of certain internet and related telecommunications services.

LINK To Five-Page OFAC Document

August 09, 2021

Senior Director For WHA At NSC In The White House Discusses Cuba. Doing "a series of other things."

August 09, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

The White House
Washington DC
9 August 2021

On-the-Record Press Call by National Security Council Senior Director for the Western Hemisphere Juan Gonzalez on Official Travel to Brazil and Argentina Via Teleconference

Excerpts

On Cuba, since the July 11th protests, we have been working to hold the regime accountable while, at the same time, doing everything we can to support the Cuban people. And in that regard, we've been doing a regular pace of sanctions of individuals involved in the crackdown against the July 11th protestors, and then doing everything to support the families of those who have been detained by increasing funding, working to expand Internet connectivity on the island, and a series of other things. So that continues.

Q Mr. Juan Gonzalez -- I would like to ask him if there was any request from the United States to the Argentinian government, to the government of Alberto Fernández, for Argentina support most the democratization of Cuba, Venezuela, or Nicaragua in terms of, for example, any declaration against the repression of the Cuban people by the government, in the case of Cuba, and if there was any request in that sense for Argentina to participate in the dialogue that the opposition and the Maduro’s regime will start in Mexico this week.

MR. GONZALEZ: Great. So, look, on the question of democracy and human rights in the region, Jake Sullivan mentioned, just as he did in Brazil, in Argentina, in the conversations with President Fernández, with Foreign Minister Solá, with Gustavo Beliz, and others that -- you know, that we have a -- we really have to break through the left-and-right mindset when it comes to promoting democratic values and that we need to really focus on a conversation with regard to democracies and countries that are not democracies if we are to ensure that, as a region, we maintain this international consensus in favor of democracy.

So, you know, I think we underscored the importance of breaking through this ideological problem that exists in the region, both in the left and the right, when it comes to democratic values and that, you know, we did raise the issue of Cuba, Nicaragua, Venezuela as one where we’re urging all countries, not just Argentina, to stand up for those ideals, given in particular the history that Argentina has suffered in the past.

And so, it's somewhere where there was a -- I think a very constructive conversation with the Argentines’ willingness to find areas of common ground and an interest in them being -- in being helpful. I mean, I think they made clear that they're not always going to agree with us on how -- on matters of approach, but that we're going to continue to have a very open and fluid dialogue when it comes to these matters.
And, you know, we believe that Argentina is a country that can speak to governments of both the left and the right, and can play an important role in encouraging the defense of democratic values. Particularly, I think, when you see in Nicaragua, which has been, you know, a move -- a very kind of concerning move toward authoritarianism in the run-up to the November elections.

And I think you'd also asked about the dialogue, sorry, on Venezuela. What I would say is -- is that we’re not -- we don't -- we're not the ones that get to pick who is seated at the table in the dialogue. I think that's a question, really, for the Unity Platform, led by the -- those Venezuelans that are in favor of democracy and the regime that is on the other side of that equation.

And, you know, I think our perspective -- which has been one that is articulated between the United States, Canada, and the European Union -- is that the international community is going to continue to push for free and fair elections, and we're going to use everything we can to press the regime to take concrete steps in that direction.

August 08, 2021

Cuba Purchases Of U.S. Agricultural Commodity/Food Products Increase 94.4% Year-To-Year; June 2021 Increased 413% Compared To June 2020

August 08, 2021/ U.S.-Cuba Trade and Economic Council, Inc.

ECONOMIC EYE ON CUBA©
August 2021

June 2021 Food/Ag Exports To Cuba Increase 413%- 1
51st Of 222 June 2021 U.S. Food/Ag Export Markets- 2
Year-To-Year Exports Increase 94.4%- 2
Cuba Ranked 54th Of 222 U.S. Ag/Food Export Markets- 2
June 2021 Healthcare Product Exports US$52,110.00- 2
June 2021 Humanitarian Donations US$306,697.00- 3
2021 Obama Administration Initiatives Exports Continue- 3
U.S. Port Export Data- 16

JUNE 2021 FOOD/AG EXPORTS TO CUBA INCREASE 413%- Exports of food products and agricultural commodities from the United States to the Republic of Cuba in June 2021 were US$28,256,268.00 compared to US$5,507,338.00 in June 2020 and US$18,815,665.00 in June 2019.

June 2021 Exports Included: Chicken Leg Quarters (Frozen); Chicken Meat (Frozen); Chicken Legs (Frozen); Soybeans.

January 2021 through June 2021 exports were US$159,942,168.00 compared to US$82,236,262.00 for the period January 2020 through June 2020.

Since December 2001, agricultural commodity and food product exports reported from the United States to the Republic of Cuba is US$6,455,169,592.00.

This report contains information on exports from the United States to the Republic of Cuba- products within the Trade Sanctions Reform and Export Enhancement Act (TSREEA) of 2000, Cuban Democracy Act (CDA) of 1992, and regulations implemented (1992 to present) for other products by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury and Bureau of Industry and Security (BIS) of the United States Department of Commerce.

The TSREEA re-authorized the direct commercial (on a cash basis) export of food products (including branded food products) and agricultural commodities from the United States to the Republic of Cuba, irrespective of purpose. The TSREEA does not include healthcare products, which remain authorized and regulated by the CDA.

LINK To August 2021 Report

Economic Eye On Cuba

By Today, State Department And Treasury Department Were To Deliver Remittance Recommendations To President Biden. Did They? When Will Decisions(s) Be Announced? Implemented?

Cuba Adopting LLC Structure For Private Sector Is A Message To Biden-Harris Administration- Even If That Was Not [Primary] Intention. Familiarity For Sources Of Investment And Financing.

White House Press Secretary References Issues With Providing COVID-19 Vaccines To Cuba

Cuba Central Bank Authorizes Cuba's Postal Service To Provide Financial Services. Continuing Expansion For Receiving And Spending Funds Assists Private Sector

Cuba Central Bank Moving Nearer To Regulations For Cryptocurrencies- Another Signal To United States That Cuba Is Changing. Private Sectors Are Expanding- Though Government Remains Reluctant

Goldwind Turbine Of China Libertad Act Lawsuit Dismissed (In Part) By Court, But Plaintiffs May Refile- And Likely Will- Court Confirmed They Have Standing

Cuba Continues Progress From Analog Television To Digital Television

Cuba Issues 175 Pages Of Regulations For Micro, Small And Medium-Sized Enterprises (MSME's)

DHS Secretary Mayorkas Visits Florida. Refuses To Answer Question Could Signal Biden Administration Considering Cuba Military Participation In Remittance Delivery

Miami Herald: "Feds seized $2.7 million in cash from Florida travelers. There’s just one reason why" And Much Going To Cuba

Healthcare Crisis In Cuba Provides Additional Questions And Opportunities For Biden-Harris Administration To Address Electronic Remittance Transfers... And Do So Practically

Iberostar Of Spain Continues To Await Decision By European Commission- How Much More Time Will U.S. Court Permit?

USDOT Authorizes Cargo Flights From United States To Six Airports In Cuba Through 30 November 2021

Binary: Electronic Remittance Transfer Decision For Biden Administration And Diaz-Canel Administration; And Putting US$20 Million Into Perspective

Biden-Harris Administration Confirms Cuba "Remittance Working Group" Has No Private Sector Members

United States Department Of State Spokesperson References Cuba

OFAC Publishes "Fact Sheet" About The Internet And Cuba

Publication of Fact Sheet on Supporting the Cuban People’s Right to Seek, Receive, and Impart Information through Safe and Secure Access to the Internet

Senior Director For WHA At NSC In The White House Discusses Cuba. Doing "a series of other things."

Cuba Purchases Of U.S. Agricultural Commodity/Food Products Increase 94.4% Year-To-Year; June 2021 Increased 413% Compared To June 2020

U.S. - Cuba Trade and Economic Council, Inc.