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| Obama opens crack in US embargo aga |
| Obama opens crack in US embargo against Cuba
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| UNITED STATES OF AMERICA
, 14-April-2009
0:14:51 AM |
| President Barack Obama opened a crack on Monday in a decades-old US embargo against communist Cuba, allowing American telecommunications firms to start providing service for Cubans and lifting restrictions on family ties to the island.
In a major shift from the Bush administration's hard-line approach to Havana, Obama ended limits on family travel and money transfers to their homeland by Cubans in the United States.
The moves by the White House do not eliminate Washington's trade embargo against Cuba, set up 47 years ago, but they do hold out the prospect for improving relations between the two longtime foes.
"The president has directed that a series of steps be taken to reach out to the Cuban people to support their desire to enjoy basic human rights," said White House spokesman Robert Gibbs. "These are actions he has taken to open up the flow of information
US officials said Obama hoped the new measures would encourage Cuba's one-party state to implement democratic reforms long demanded by Washington as a condition for removing sanctions imposed after Fidel Castro took power in 1959.
Shares of companies that stand to gain from a thaw in US ties with Cuba soared on the news, led by Canadian mining and energy company Sherritt International, a major player in Cuba's nickel and oil industry, whose stock rose 24.5 percent
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