US eases sanctions against Cuba again

OFAC has amended the Cuban Assets Control Regulations to further ease US sanctions on Cuba, particularly in respect of travel, financial transactions, and doing business in the country. Among other things, the changes remove the requirement that people-to-people educational travel to Cuba be sponsored by an organisation, lift the limit on how much a non-immigrant Cuban national may earn in the US, authorise U-turn transactions involving Cuba or Cuban nationals, allow US banks to open and maintain bank accounts for Cuban nationals in Cuba, and expand the existing authorisation for businesses to have a physical presence in Cuba.

The full details of the changes are here, and OFAC’s updated FAQ on US sanctions against Cuba is here.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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