2015

Today, a final rule, opening U.S. trade with Cuba, was published in the Federal Register by the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s, Bureau of Industry and Security (BIS). Through this Federal Register notice, OFAC has amended its Cuban Assets Control Regulations and the BIS has amended the Export Administration Regulations with a “Support for the Cuban People” license exception. This final rule is effective today, with proposed rulemaking, opportunity for public participation, and delay in effective date deemed inapplicable because this regulation involves a foreign affairs function of the U.S.

Cuban cigars will not be readily available for U.S. consumers to purchase as a result of these changes.
Purchasing a Cuban cigar while in outside the U.S. or online is still prohibited by OFAC. The United States still maintains an embargo on trade with Cuba, which “prohibit any person subject to U.S. jurisdiction from dealing in any “property” in which Cuba or a Cuban national has or has had any interest”. The new changes announced today provide a revision to the regulations and will have a substantial impact on the following areas: travel, telecom, building materials and agricultural equipment, financial services, personal importations.

1.      Travel

• Travel to Cuba for tourist related activity is still not authorized. “Specific licenses” will not […]