U.S. Administration Modifies Cuba Policies

U.S. Administration Modifies Cuba Policies

On Friday, June 16 the Trump Administration announced modifications to its policy toward Cuba. The new policies seek to slow the normalization of political and economic ties begun under the Obama Administration. Under changes made by the U.S. Treasury’s Office of Foreign Asset Control (OFAC), the administration will begin to strictly enforce exemptions that allow travel between the U.S. and Cuba and prohibit commerce with Cuban businesses owned by the military and intelligence services.

OFAC has released an FAQs document to assist businesses with the changes in regulations. A copy can be found here.