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Treasury and Commerce Further Amend Cuba Sanctions Regulations

Jaclyn Jaeger | January 27, 2016

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS) yesterday published amendments to the Cuban Assets Control Regulations to further implement policy changes laid out by the president in December 2014.

These amendments will remove existing restrictions on payment and financing terms for authorized exports and re-exports to Cuba of items other than agricultural items or commodities, and establish a case-by-case licensing policy for exports and re-exports of items to meet the needs of the Cuban people, including those made to Cuban state-owned enterprises. 

These amendments will further facilitate travel to Cuba for authorized purposes by allowing blocked space,...

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