OFAC, BIS AND STATE DEPARTMENT PUBLISH NEW REGULATIONS TIGHTENING US SANCTIONS CONCERNING CUBA

Posted on November 13, 2017
Archive : November 2017
Category : Herbert Smith Freehills

OFAC, BIS AND STATE DEPARTMENT PUBLISH NEW REGULATIONS TIGHTENING US SANCTIONS CONCERNING CUBA

by Fahmida Chowdhury

On 8 November 2017, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) published significant amendments to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR). These amendments were made following President Trump’s June 2017 National Security Presidential Memorandum (NSPM) setting out changes of policy direction towards Cuba.

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