From the “Miracle on Ice” to the Joe Louis/Max Schmeling fights, sports have often played a pivotal symbolic role in American diplomacy abroad. Now, as relations with Cuba have started to thaw, The New York Times recently detailed the Caribbean Baseball Initiative’s plan to bring a Minor League Baseball team to Havana. The group, led by veteran baseball executive Lou Schwechheimer, has spent the last decade laying significant groundwork toward this end and hopes for success as early as 2017.
OFAC Updated SDN List Removing Individuals and Companies associated with Cuba
On March 24, 2015, the Office of Foreign Assets Control (OFAC) updated the Specially Designated National (SDN) List by removing 59 companies, individuals, and vessels previously blocked under the Cuban Assets Control Regulations. The companies removed include those from the United States, Panama, and Cuba. The SDN List is maintained by OFAC and identifies certain individuals and companies that are owned or controlled by or act on behalf of targeted countries or terrorist groups. U.S. citizens and permanent residents are generally prohibited from doing business with individuals or companies appearing on the SDN List.
U.S.-Cuba Relations
After more than a half-century, the U.S. has finally taken steps toward normalizing its relations with Cuba. In a series of executive actions on December 17, 2014, President Obama announced changes to existing regulations that will ease sanctions against Cuba.
U.S. and Cuban officials will meet on February 27, 2015 at the State Department to continue talks of restoring ties and ending the embargo. Likely sticking points will be the opening of a U.S. Embassy in Havana, Cuba’s continuing appearance on the U.S. list of countries that support and sponsor terrorism, the potential return of Guantanamo Bay to Cuba, and U.S. support for Cuban political dissidents.
The executive actions alone however offer various opportunities for U.S. and Cuban businesses. This is particularly true in industries such as telecommunications and agriculture where technological and scientific advances could lead to improved infrastructure and increased production.