Friday, January 16, 2015

Revised Cuba Regulations Officially Released

cuba and key west Today, a final rule, opening U.S. trade with Cuba, was published in the Federal Register by the U.S. Treasury Department, Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s, Bureau of Industry and Security (BIS). Through this Federal Register notice, OFAC has amended its Cuban Assets Control Regulations and the BIS has amended the Export Administration Regulations with a “Support for the Cuban People” license exception. This final rule is effective today, with proposed rulemaking, opportunity for public participation, and delay in effective date deemed inapplicable because this regulation involves a foreign affairs function of the U.S.

Cuban cigars will not be readily available for U.S. consumers to purchase as a result of these changes.

Thursday, January 15, 2015

TOMORROW Updated Cuban Assets Control Regulations Take Effect

cuba map

Today, the Department of the Treasury's Office of Foreign Assets Control (OFAC) announced it is amending the Cuban Assets Control Regulations, 31 C.F.R. part 515 (the "CACR"), which will be published in the Federal Register tomorrow, January 16, 2015, at which time the changes will take effect.