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ARTICLE · 16 JANUARY 2015

U.S. Treasury And Commerce Release Revised Cuba Sanctions Regulations

Holland & Knight
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On the morning of Jan. 16, 2015, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce Bureau of Industry and Security (BIS) will publish revised Cuba sanctions regulations.

United StatesInternational Law
Ronald Oleynik
Ronald Oleynik
Andres Fernandez
Andres Fernandez
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Ronald Oleynik is a Partner in our Washington D.C. office

Andres Fernandez is a Partner in our Miami office

HIGHLIGHTS:

  • On the morning of Jan. 16, 2015, the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce Bureau of Industry and Security (BIS) will publish revised Cuba sanctions regulations opening trade with Cuba for the first time in decades. Those changes are the first step in moving toward normal relations with Cuba.
  • The revised regulations ease certain limitations on travel to Cuba and certain associated services (e.g., insurance services), broaden exports and imports, and make financial transactions related to authorized transactions easier. The biggest impacts appear to be in travel, telecommunications, financial services and exports to the Cuban private sector.

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