Rule change allows for American exports to Cuba


USA TODAY: Business leaders surprised by how lenient shipment rules that go into effect today are.

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USA TODAY: Business leaders surprised by how lenient shipment rules that go into effect today are.

“I don’t think any of us expected something quite as wide as this,” said Ron Oleynik, who heads the trade regulatory practice at the Holland & Knight law firm. “These are fairly careful people who drafted these (rules), so they didn’t do it blindly. They did it with an eye to leaving them vague.” …

Many expected the Obama administration to expand and facilitate those transactions, and it did. Under the new rules, American banks can handle transactions from Cuban banks, making it easier for Cubans to pay for their goods. Cubans can pay upon delivery of products, eliminating the burdensome practice in which payment had to be received by American companies before they shipped their products.

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