(STR Trade Report)
Revised U.S. government regulations implementing recent changes in U.S. trade and other policies toward Cuba will take effect Jan. 16. These regulatory modifications do not lift the U.S. economic embargo against Cuba but do allow additional trade-related activities. Sandler, Travis & Rosenberg will be conducting a webinar Feb. 19 to examine the impact of these changes.
The Department of the Treasury’s Office of Foreign Assets Control has issued a final rule amending the Cuban Assets Control Regulations to facilitate travel to Cuba for authorized purposes, facilitate the provision by travel agents and airlines of authorized travel services and the forwarding by certain entities of authorized remittances, raise the limit on certain categories of remittances to Cuba, allow U.S. financial institutions to open correspondent accounts at Cuban financial institutions to facilitate the processing of authorized transactions, authorize certain transactions with Cuban nationals located outside of Cuba, and allow a number of other activities related to telecommunications, financial services, trade and shipping. Click here to read more.