Cuba Is Still Open for Business, Including American Business
Under the new Trump administration regulations announced June 16, the types of U.S. businesses that will be able to operate in and with Cuba will likely be more limited than they are now thanks to the announced U.S. prohibition on doing business with the Cuban military, the purported overseer of much of Cuba's civilian businesses, writes Elizabeth Sandza.
July 21, 2017 at 11:42 AM
6 minute read
Under the new Trump administration regulations announced June 16, the types of U.S. businesses that will be able to operate in and with Cuba will likely be more limited than they are now thanks to the announced U.S. prohibition on doing business with the Cuban military, the purported overseer of much of Cuba's civilian businesses.
The exact wording of the amended regulations will not be released until approximately mid-September.
The proposed U.S. prohibition is unlike a bar from doing business with the U.S. military in that the Cuban military controls not only its own operations and people, but also reportedly controls approximately 60 percent of the Cuban civilian economy. Under the military's arm — Grupo do Administracion Empresarial S.A. or GAESA — and its 18 corporate subsidiaries, headed up by President Raul Castro's son-in-law, Gen. Luis Alberto Rodriguez, the military's enterprises appear to own:
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