Top 10 Changes with Cuba as a Result of MORE NEW Revised OFAC and BIS Regulations
As of January 27th, 2016, both OFAC and the BIS have amended their regulations again, and below details the top 10 changes as a result. The last update was on September 21, 2015, and can be found here. While the United States maintains its broad embargo on trade with Cuba, OFAC and BIS have released amendments to the Cuban Assets Control Regulations designed to advance President Obama’s policy to engage and empower the Cuban people. The new changes, which can be found here and here, expand the scope of authorized business and travel by U.S. person and companies inside of Cuba. These changes were put into place to help facilitate engagement between the U.S. and Cuba. Click here to read FAQ’s related to Cuba from the OFAC.
Below we’ve providing you with a detailed summary of the top 10 significant changes: