North American banks alert for relations with Cuba

For several months now, relations between the United States and Cuba have kept many potential international investors on the alert, however, since the embargo is still in effect, US banks are being cautious about trade relations with Cuba.

This is especially so since the last steps that have been announced to facilitate all commercial transactions with Cuba by the Barack Obama administration, as these banking entities are studying with great care all the legal implications of these measures.

North American banks attentive to relations with Cuba – Banks watch closely the evolution of relations between the United States and todo Cuba.

For several months now, relations between the United States and Cuba have kept many potential international investors on the alert, however, since the embargo is still in effect, US banks are being cautious about trade relations with Cuba.

This is especially so since the last steps that have been announced to facilitate all commercial transactions with Cuba by the Barack Obama administration, as these banking entities are studying with great care all the legal implications of these measures.

The main reason why US banks are cautiously analyzing these measures is because they want to avoid, as far as possible, making decisions that could harm them in the long term, by the effectiveness of the embargo.

The president of the American company “Meridian Finance Group” revealed to the specialized magazine “Global Trade Report (GTR)”, that exactly “the same happens with the great corporations, agencies and other American firms that look towards those new markets” .

Meanwhile, Timothy O’Toole, the export specialist at law firm Miller & Chevalier, says the banks are right to be careful, since “the embargo is in effect, US tourism to Cuba is not allowed and A large number of restrictions on the operations of banks and corporations are still maintained. “