New Measures Approved: United States Bans Sending Funds to the Cuban Private Business Sector

From the United States comes information affecting entrepreneurs in Cuba. With the announcement just a few hours ago of the non-approval of funds to assist the business sector within the Caribbean island, there is a setback for the emerging private sector in Cuba.

According to official sources, the House of Representatives of the northern country allocated funds for specific matters such as national security, labor, health, defense, human services, education, among others.

However, it declined the possibility of allocating any state funds to support entrepreneurs in the largest island of the Antilles, establishing restrictions for this purpose.

The legislation, which will be taken to the U.S. Senate for final approval, has a set amount of funds (about 25 million dollars) to favor “democracy” within the island.

This translates into support for the Office of Cuba Broadcasting (responsible for Radio and TV Martí), as well as the promotion for the liberation of the internet on the island.

The legislation is emphatic towards promoting aid for economic reforms, support for the business sector, or the so-called entrepreneurs that do not have a direct relationship with the promotion of democracy on the island as stipulated by the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 (Helms-Burton Act) and the Cuban Democracy Act of 1992 (Torricelli Act).

Such restrictions are a significant blow against the private business sector of the Caribbean island, many of whom saw it as possible or viable to gain momentum from the northern country.

Cuban-American Republican Congressman Mario Díaz-Balart is the main promoter of the legislation, and as he stated in a release, the law will prevent the Joe Biden government from allocating state funds for unapproved uses.