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US Extends Trade Restrictions Against Cuba for Another Year

© AP Photo / Ramon EspinosaCuban President Raul Castro, right, lifts up the arm of President Barack Obama at the conclusion of their joint news conference at the Palace of the Revolution, Monday, March 21, 2016, in Havana, Cuba
Cuban President Raul Castro, right, lifts up the arm of President Barack Obama at the conclusion of their joint news conference at the Palace of the Revolution, Monday, March 21, 2016, in Havana, Cuba - Sputnik International
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The United States extends for one year a federal law that restricts trade with Cuba, according to announcement by US President Barack Obama.

A man stands near the national flags of the U.S. and Cuba (R) on the balcony of a hotel being used by the first U.S. congressional delegation to Cuba since the change of policy announced by U.S. President Barack Obama on December 17, in Havana - Sputnik International
Latest US Move to Relax Sanctions Offers Opportunities for Cuba
WASHINGTON (Sputnik) — The United States extends for one year a federal law that restricts trade with Cuba, US President Barack Obama announced in a memorandum on Tuesday.

"I hereby determine that the continuation for 1 year of the exercise of those authorities with respect to Cuba is in the national interest of the United States,’ Obama stated.

The restrictions, introduced under the Trading with the Enemy Act, will remain in effect until September 14, 2017, according to the memorandum.

In December 2014, Obama announced the United States would normalize relations with Cuba after more than 50 years of non-engagement and hostilities. While the two countries reopened embassies in their respective capitals in July 2015, the congressionally-mandated US trade embargo continues to remain in effect.

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