|Thursday, 18 December 2014 00:00|
(Washington, DC) President Barack Obama announced yesterday a series of historic changes in U.S.-Cuba relations that will likely result in significant changes to U.S. law and policy.
To discuss the potential impact on US businesses of this matter, Poblete Tamargo's Jason Poblete was a guest this morning on CNBC's Squawk Box.
There are two key points that Poblete has stressed for several years about potential investments in Cuba that he shared with CNBC in March 27 phone interview, and stressed again this week: You need a stable legal system that protects investor rights and has a path to resolve disputes. At this juncture, neither exists.
Moreover, there is no such thing as private property rights on the island. Until these and other matters change, including a clear resolution on US Certified Cuba Claims and economic sanctions, American companies and individuals who are allowed to do business in Cuba pursuant to US law, must be extremely cautious (podcast).
Despite the cautionary note, the announcement does move the US-Cuba relationship in to a new phase. It will be worth playing closer attention to the situation in 2015.