The United States has no plans to end the trade embargo against Cuba, Vice President Biden said late on Saturday.

When asked about whether or not the long-standing sanction would remain in place, Biden replied, "No."

"We thought there was a need for a transition in our policy toward Cuba," the vice president told participants in this weekend's Progressive Governance Summit in Chile. "But we all share one thing in common: we think the Cuban people should be able to determine their own fate."

The administration has relaxed some restrictions on commerce in the communist country, as well as allowing some families to travel more to the country.

"President Obama and I are absolutely committed to working closely with our neighbors in the hemisphere," Biden added.