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OFAC and Commerce Ease Cuba Restrictions
Monday, October 24, 2016 6:30 AM

The U.S. Department of the Treasury has announced the amendment of the OFAC Cuban Assets Control Regulations (CACR) to implement the new U.S. policy direction towards Cuba. Among other things, these amendments authorize certain transactions related to Cuban-origin pharmaceuticals and joint medical research; add, expand, and clarify authorizations relating to trade and commerce; authorize certain civil aviation safety-related services; further facilitate authorized travel to Cuba; and expand the authorizations for grants and humanitarian-related services designed to directly benefit the Cuban people.

The amendment was published at 81 FR 71372 in the Oct. 17 Federal Register, and was effective on publication. OFAC also published new and updated FAQs, a Fact Sheet, and updated Travel Guidance.

In a coordinated action, the Department of Commerce published a final rule at 81 FR 71365 amending a license exception to allow cargo aboard aircraft to transit Cuba when that cargo is bound for destinations other than Cuba. This rule also authorizes export and re-export of certain items sold directly to individuals in Cuba under a license exception. Finally, this rule revises the lists of ineligible Cuban officials for purposes of certain license exceptions.

Commerce's rule was effective 10/17/16.

Source:  U.S. Department of Treasury