OFAC Issues Cuban Asset Control Regulations focused on the U.S. Financial Sector


Today, the Department of Treasury’s Office of Foreign Assets Control (OFAC) amended the Cuban Assets Control Regulations to implement changes in U.S. policy toward Cuba announced by President Obama on December 17, 2014.

The amendments permit travel to Cuba for certain purposes and related services, modify remittances to Cuba and authorize related services, authorize certain transactions with Cuban nationals outside of Cuba, allow specific trade activity, and liberalize financial transactions with Cuba.

As a result of the amendments, and of particular interest to the U.S. financial sector:

We look forward to keeping you informed about the evolution of U.S. sanctions regarding Cuba and are available to help you analyze potential opportunities as well as to provide input to the decision-makers in Washington.


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National Law Review, Volumess V, Number 15