The Cuban government announced it will allow Cubans living abroad to invest in the country's private sector, El Pais reported on March 16. Havana also announced it will remove barriers for U.S. businesses and other foreign investors, even though U.S. law prevents trade and investment on the island as part of the decades-long economic embargo.

Cuban ​Deputy Prime Minister and foreign commerce minister Oscar Perez-Oliva said on March 16 that the regulatory changes go beyond commerce and include large projects in agribusiness, finance, infrastructure, tourism, mining and energy. The announcement came just three days after the Cuban government confirmed it is in talks with Washington amid U.S. pressure and an oil blockade that has resulted in Cuba's most severe socioeconomic crisis in history. Media reports show that the United States is pushing for the removal of Diaz-Canel, while U.S. President Donald Trump said on March 16 that he can do whatever he wishes with the island. In 2021, the Cuban government allowed Cubans living on the island to own private businesses.