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Cuban Trade Agreements

In 2005, the two countries also signed cooperation agreements in the field of energy and electricity, an agreement between the Venezuelan oil company PDVSA and its Cuban counterpart Cupet for the purchase and sale of crude oil, and a crude oil storage agreement between the two companies. [59] The thaw continued in the following years. The Obama administration has further eased restrictions on wire transfers and travel, as well as on commerce, telecommunications, and financial services. It also removed Cuba`s designation as a sponsor of terrorism, a major obstacle to normalization. Both governments reopened their messages, one step received broad public support in both countries and negotiated a flood of bilateral agreements [PDF]. The Cuban revolution led to a deterioration in relations between the two countries and diplomatic relations were concluded on the 3rd Relations improved when Vladimir Putin was elected as the new Russian president. . . .