Good afternoon, today the United States of America is changing its relationship with the people of Cuba. In the most significant changes in our policy in more than 50 years, we will end an outdated approach that, for decades, has failed to advance our interests. And instead, we will begin to normalize relations between our two countries. Through these changes, we intend to create more opportunities for the American and Cuban people and begin a new chapter among the nations of the Americas.

There's a complicated history between the United States and Cuba. I was born in 1961 just over two years after Fidel Castro took power in Cuba. And just a few months after the Bay of Pigs invasion, which tried to overthrow his regime. Over the next several decades, the relationship between our countries played out against the backdrop of the Cold War and America's steadfast opposition to communism.

We're separated by just over 90 miles. But year after year, an ideological and economic barrier hardened between our two countries. Meanwhile, the Cuban exile community in the United States made enormous contributions to our country; in politics and business, culture and sports. Like immigrants before, Cubans helped remake America. Even as they felt a painful yearning for the land and families they left behind.

All of this bound America and Cuba in a unique relationship, it wants family and foe. Proudly, the United States have supported democracy and human rights in Cuba through these five decades. We've done so primarily through policies that aim to isolate the island, preventing the most basic travel and commerce that Americans can enjoy anyplace else. And though this policy has been rooted in the best of intentions, no other nation joins us in imposing these sanctions. And it has had little effect beyond providing the Cuban government with a rationale for restrictions on its people.

Today, Cuba is still governed by the Castros and the Communist party that came to power half a century ago. Neither the American nor Cuban people are well served by a rigid policy that's rooted in events that took place before most of us were born.

Consider that for more than 35 years,  we've had relations with China. A far larger country also governed by a Communist party. Nearly two decades ago, we re-established relations with Vietnam where we fought a war that claimed more Americans than any Cold War confrontation. That's why when I came into office, I promised to re-examine our Cuba policy.

As a start, we lifted restrictions for Cuban-Americans to travel and send remittances to their families in Cuba. These changes, once controversial, now seem obvious. Cuban-Americans have been reunited with their families and are the best possible ambassadors for our values. And through these exchanges, a younger generation of Cuban-Americans increasingly questioned an approach that does more to keep Cuba closed off from an interconnected world.

While I've been prepared to take additional steps for some time, a major obstacle stood in our way: the wrongful imprisonment in Cuba of a U.S. citizen and a USAID subcontractor, Alan Gross, for five years. Over many months, my administration has held discussions with the Cuban government about Alan's case and other aspects of our relationship.

His Holiness Pope Francis issued a personal appeal to me and to Cuba's President Raul Castro urging us to resolve Alan's case. And to address Cuba's interest in the release of three Cuban agents who'd been jailed in the United States for over 15 years.

Today, Alan returned home reunited with his family at long last. Alan was released by the Cuban government on humanitarian grounds. Separately, in exchange for the three Cuban agents, Cuba today released one of the most important intelligence agents that the United States has ever had in Cuba. And who has been in prison for nearly two decades. This man, whose sacrifices have been known by only a few, provided America with the information that allowed us to arrest the network of Cuban agents that included the men transferred to Cuba today. As well as other spies in the United States. This man is now safely on our shores.

Having recovered these two men who have sacrificed for our country, I'm now taking steps to place the interests of both parties at the heart of our policy. First, I've instructed Secretary Kerry to immediately begun discussions with Cuba to reestablish diplomatic relations that have been severed since 1961.

Going forward, the United States will reestablish an embassy in Havana and high ranking officials will visit Cuba. Where we can advance shared interests, we will. On issues like health, migration, counter terrorism, drug trafficking and disaster response. Indeed, we've seen the benefits of cooperation between our countries before. It was a Cuban, Carlos Finley, who discovered that mosquitoes carry yellow fever. His work helped Walter Reed to fight it.

Cuba has sent hundreds of healthcare workers to Africa to fight Ebola. And I believe that American and human healthcare workers should work side by side to stop the spread of this deadly disease. Now where we disagree, we will raise those differences directly. As we continue to do on issues related to democracy and human rights in Cuba. But I believe we can do more to support the Cuban people and promote our values through engagements. After all, these 50 years have shown that isolation has not worked. It's time for a new approach.

Second, I've instructed Secretary Kerry to review Cuba's designation as a state sponsor of terrorism. This review will be guided by the facts and the law. Terrorism has changed in the last several decades. At a time when we are focused on threats from al Qaeda to ISIL, a nation that meets our conditions and renounces the use of terrorism should not face this sanction.

Third, we are taking steps to increase travel commerce and the flow of information to and from Cuba. This is fundamentally about freedom and openness. It also expresses my belief in the power of people to people engagement. With the changes I'm announcing today, it will be easier for Americans to travel to Cuba. And Americans will be able to use American credit and debit cards on the island. Nobody represents America's values better than the American people. And I believe this contact will ultimately do more to empower the Cuban people.

 I also believe that more resources should be able to reach the Cuban people. So we're significantly increasing the amount of money that can be sent to Cuba. And removing limits on remittances that support humanitarian projects, the Cuban people and the emerging Cuban private sector. I believe that American businesses should not be put at a disadvantage. And that increased commerce is good for Americans and Cubans.

So we will facilitate authorized transaction between the United States and Cuba. U.S. financial institutions will be able to open accounts at Cuban financial institutions. And it will be easier for U.S. exporters to sell goods in Cuba.

I believe in the free flow of information. Unfortunately, our sanctions on Cuba have denied Cubans access to technology that has empowered individuals around the globe. So I've authorized increased telecommunications connections between the United States and Cuba. Businesses will be able to sell goods that enable Cubans to communicate with the United States and other countries.

These are the steps that I can take as President to change this policy. The embargo that has been imposed for decades is now codified in legislation. As these changes unfold, I look forward to engaging Congress in an honest and serious debate about lifting the embargo.

Yesterday I spoke with Raul Castro to finalize Alan Gross' release and the exchange of prisoners and to describe how we will move forward. I made clear my strong belief that Cuban society is constrained by restrictions on its citizens. In addition to the return of Alan Gross and the release of our intelligence agent, we welcome Cuba's decision to release a substantial number of prisoners whose cases were directly raised with the Cuban government by my team.

We welcomed Cuba's decision to provide more access to the internet for its citizens. And to continue increasing engagement with international institutions like the United Nations and the international committee of the Red Cross that promote universal values.

But I'm under no illusion about the continued barriers to freedom that remain for ordinary Cubans. The United States believes that no Cuban should face harassment or arrests or beatings simply because they are exercising a universal right to have their forces heard. And we will continue to support the civil society there.

While Cuba has made reforms to gradually open up its economy. We continue to believe that Cuban workers should be free to form unions just as their citizens should be free to participate in the political practices. Moreover, given Cuba's history, I expect it will continue to pursue foreign policies that will, at times, be sharply at odds with American interests.

I do not expect the changes I'm announcing today to bring about a transformation of Cuban society overnight. But I am convinced, that through a policy of engagement, we can more effectively standup for our values and help the Cuban people help themselves as they move into the 21st century.

To those who oppose the steps I'm announcing today. Let me say I respect your passion and share your commitment to liberty and democracy. The question is how we uphold that commitment? I do not believe we can keep doing the same thing for over five decades and expect a different result. Moreover, it does not serve America's interests or the Cuban people to try to push Cuba towards collapse.

Even if that worked, and it hasn't for 50 years, we know from hard earned experience that countries are more likely to enjoy lasting transformation if their people are not subjected to chaos. We are calling on Cuba to unleash the potential of 11 million Cubans by ending unnecessary restrictions on their political, social and economic activities. In that spirit, we should not allow US sanctions to add to the burden of Cuban citizens which we seek to help.

To the Cuban people, America extends a hand of friendship. Some of you have looked to us as a source of hope and we will continue to shine a light of freedom. Others have seen us as a form of colonizer intent on controlling your future. Jose Martin said, "liberty is the right of every man to be honest."

Today, I'm being honest with you. We can never erase the history between us. But we believe that you should be empowered to live with dignity and self-determination. Cubans have a saying about daily life. "No es fasil" It's not easy. Today the United States wants to be a partner in making the lives of ordinary Cubans a little bit easier. More free. More prosperous.

To those who have supported these measures, I thank you for being partners in our efforts. In particular, I want to thank His Holiness Pope Francis, whose moral example shows us the importance of pursuing for the world as it should be, rather than simply settling for the world as it is. The government of Canada, which hosted our discussions with the Cuban government and a bipartisan group of congressmen who worked tirelessly for Alan Gross' release and for a new  approach to advancing our interests and values in Cuba.

Finally, our shift in policy towards Cuba comes at a moment of renewed leadership in the Americas. This April, we are prepared to have Cuba join the other nations of the hemisphere at the Summit of the Americas. But we will insist that civil society join us. So that citizens, not just leaders, are shaping our future. And I call on all my fellow leaders to give meaning to the commitment to democracy and human rights at the heart of the inter-American charter.

Let us leave behind the legacy of both colonization and communism, the tyranny of drug cartels, dictators and sham elections. A future of greater peace, security and democratic development is possible if we work together. Not to maintain power, not to secure vested interests, but instead to advance the dreams of our citizens.

My fellow Americans, the city of Miami is only 200 miles or so from Havana. Countless thousands of Cubans have come to Miami on planes and makeshift rafts - some with little but the shirt on their backs and hope in their hearts. Today, Miami is often referred to as the capital of Latin America. But it is also a profoundly American city - a place that reminds us that ideals matter to us more than the color of our skin or the circumstances of our birth. A demonstration of what the Cuban people can achieve and the openness of the United States to our family to the South.

Todos somos Americanos. Change is hard in our own lives and in the lives of nations. And change is even harder when we carry the heavy weight of history on our shoulders. But today we are making these changes because it is the right thing to do. Today America chooses to cut loose the shackles of the past. So it is to reach for a better future for the Cuban people, for the American people, for our entire hemisphere and for the world. Thank you. God bless you. And God bless the United States of America.