The changes were set to take effect Monday. Pictured: U.S. President Barack Obama shook hands with Cuban President Raul Castro on the sidelines of the Summit of the Americas April 11 in Panama City. Getty Images

The White House revealed Friday a set of revisions to the sanctions against Cuba that were due to ease travel restrictions, increase telecommunications services and enable certain people to open businesses and bank accounts in the country. The changes were set to take effect Monday in what was seen as another step in the normalization of diplomatic relations between the U.S. and Cuba, according to a news release from the departments of treasury and commerce.

"A stronger, more open U.S.-Cuba relationship has the potential to create economic opportunities for both Americans and Cubans alike," Treasury Secretary Jack Lew said in the release announcing the policy shift. "By further easing these sanctions, the United States is helping to support the Cuban people in their effort to achieve the political and economic freedom necessary to build a democratic, prosperous, and stable Cuba.”

Commerce Secretary Penny Pritzer added that the loosened regulations were aimed at keeping American visitors to Cuba safe while promoting more business opportunities. Read a detailed list of the changes here.