U.S. Amends Cuban Asset Control Regulations - North

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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has published amendments to the Cuban Assets Control Regulations. The amendments to the Regulations will ease current sanctions in place against Cuba and are aimed at improving relations and trade with Cuba and at promoting democracy.

The amended Regulations ease restrictions on certain travel to Cuba, increase the goods permitted to be traded with Cuba and simplify payments related to authorised transactions. The amendments will also allow vessels carrying certain permitted cargoes to call at U.S. ports immediately after calling at Cuban ports.

Full information relating to Cuban sanctions can be found on the Department of the Treasury website, a copy of the amendments to the Cuban Asset Control Regulations can be read here.

Should Members have any questions relating to the amended regulations, then North’s Sanctions Advice Team can be contacted at sanctions.advice@nepia.com