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Treasury Issues Amendments to Cuba Sanctions

Jaclyn Jaeger | January 16, 2015

The Department of the Treasury’s Office of Foreign Assets Control and the Department of Commerce today published amendments to the Cuban Assets Control Regulations to implement policy changes announced by the President last month.

The newly revised regulations, in part, allow U.S. financial institutions to open correspondent accounts at Cuban financial institutions to facilitate the processing of authorized transactions, authorize certain transactions with Cuban nationals located outside of Cuba, and allow a number of other activities related to telecommunications, financial services, trade, and shipping.

Major elements of the changes in the revised regulations include:


A new OFAC general license will facilitate the...

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