• Shining Light into the Heart of Darkness: An Update on the Cuban Embargo
  • January 18, 2017 | Author: Moses Luski
  • Law Firm: Shumaker, Loop & Kendrick, LLP - Charlotte Office
  • Sixty years after the imposition of the Cuban Embargo, the orthodoxy and ideology that caused it to persist are no longer relevant from the standpoint of the affected parties. From Cuba’s point of view there is little chance that the United States will compromise the sovereignty of Cuba by means of invasion or annexation. Further, given the pressures imposed by globalization, specifically social media, the economic deprivation facing Cubans is a ticking time bomb which will ultimately undo the current regime unless it adapts to the new realities. On the other hand, the United States stands to benefit both economically and diplomatically from an economically resurgent Cuba. The recent loosening of the Cuban Embargo and the parallel establishment of diplomatic relations between Cuba and the United States is but a tentative first step, a shadowy glimmer of light into the heart of darkness. According to conversations the author has had with knowledgeable sources that have traveled to Cuba, there will be no significant progress in economic relations between the United States and Cuba so long as the Cuban Embargo remains in effect. So, while the Cuban Embargo no longer has a substantive geopolitical underpinning, it remains very much alive. While “Fidel” has only nominally been in power, his influence is still strongly felt and there is no appetite in Cuba to move forward with increased economic ties with the United States until the Cuban Embargo is lifted. Whether this will change given Fidel’s death remains to be seen; however, it is inevitable that at some point, in one way or another, economic relations between the United States and Cuba will be normalized. It behooves individuals and businesses to take advantage of the current opportunities presented by the softening of the impact of the Cuban Embargo and the establishment of diplomatic relations between the United States and Cuba to commence lawful activities in Cuba. Those who establish business and social connections now will be in a position to be the first to take advantage of the economic opportunities in Cuba once the Cuban Embargo is lifted.