WASHINGTON, December 17 (Sputnik) — Sanctions relief for Cuba, announced Wednesday by US President Barack Obama, will go into effect in the coming weeks, a Treasury spokesperson told Sputnik News Agency.
"The Office of Foreign Asset Controls will implement the Treasury-specific changes via amendments to its Cuban Assets Control Regulations," the spokesperson said.
The Office of Foreign Asset Controls oversees the financial aspects of sanctions implementation.
The Treasury spokesperson also said that the US Department of Commerce would separately implement the remainder of the changes with amendments to its export regulations.
Obama announced Wednesday a decision to normalize diplomatic ties with Cuba after more than five decades of severed relations. The United States will also increase allowable remittance to Cuba, authorize additional exports and imports of certain goods and services, as well as facilitate financial transactions between the two countries.
