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ARTICLE · 26 JANUARY 2015

OFAC And BIS Issue Revised Cuba Regulations

Jones Day
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On December 17, 2014, U.S. President Barack Obama announced a historic shift in U.S. policy toward Cuba...

United StatesInternational Law
Jones Day
Jones Day
Michael Gurdak
Michael Gurdak
Fahad Habib
Fahad Habib
Johanna Rousseaux
Johanna Rousseaux
Andrew Turnier
Andrew Turnier
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Paul Hines
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On December 17, 2014, U.S. President Barack Obama announced a historic shift in U.S. policy toward Cuba and pledged that in the coming months, the United States would reestablish diplomatic relations and ease certain aspects of its long-standing trade embargo against Cuba. Last week, the United States took its first steps toward a greater degree of engagement with Cuba.

On January 16, 2015, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") and the U.S. Department of Commerce's Bureau of Industry and Security ("BIS") amended their regulations to ease certain travel restrictions and economic sanctions against Cuba. Although these amended regulations represent a significant step toward relaxing the U.S. sanctions regime, they nevertheless leave in place much of the comprehensive embargo against trading with Cuba.

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