Sanctions Round Up: First Quarter 2016

OFAC amends the Cuban Assets Control Regulations to ease Cuban sanctions in response to President Obama's policy changes announced on December 17, 2014. These revisions have major implications for the banking and financial services sector. OFAC and the United Nations levy sanctions against North Korea for its missile testing exercises. Additional, the European Council continues to impose sanctions against Russia and encourages other countries to sanction the country for its annexation of Crimea and disruptive activities in eastern Ukraine.

Included in this Quarter's Sanctions Round-Up:

• OFAC amendments to the Cuban Assets Control Regulations ease sanctions on financial services, commerce and trade and travel;