U.S. Treasury to amend Cuba sanctions in coming weeks

Jailed U.S. Agency for International Development (USAID) contractor Alan Gross, (C), poses for a picture during a visit with Cuban Jewish Community leader Adela Dworin, (R), and David Prinstein, Vice President, at Havana's Carlos J Finlay Military Hospital in this September 28, 2012 photo. REUTERS/Handout

WASHINGTON (Reuters) - Financial sanctions on Cuba will be amended in "coming weeks" in response to U.S. President Barack Obama's announcement of diplomatic relations between the two countries, the U.S. Treasury said on Wednesday.

The U.S. government said that U.S. people and companies would be able to apply for licenses to do business with Cubans residing outside Cuba, and allow people to attend Cuba-related conferences outside Cuba. The United States will also unfreeze the U.S. bank accounts of Cubans who no longer live in Cuba, the White House said.