Treasury and Commerce Departments Issue Regulations to Implement New Cuba Policy

APRIL 2016 UPDATE:  In Additional Steps to Ease U.S. Sanctions and Export Controls for Cuba prior to Obama Visit, Pillsbury attorneys Chris Wall, Steve Becker, Nancy Fischer, and Aaron Hutman discuss the additional steps taken by the Administration, in advance of President Obama’s highly publicized trip to Cuba, to ease restrictions on trade and travel with Cuba. These changes to the Cuban Assets Control Regulations and Export Administration Regulations have implications for various industries.

Yesterday, Pillsbury attorneys Chris Wall, Steve Becker, Nancy Fischer, Aaron Hutman and Stephanie Rohrer published their advisory titled Treasury and Commerce Departments Issue Regulations to Implement New Cuba Policy. The Advisory discusses the Obama administration’s implementation of its promised changes to U.S. sanctions and export controls for Cuba, changes effective January 16, 2015. Although most trade and transactions still are prohibited, the revisions to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR) ease licensing requirements in a number of areas, including exports to and imports from Cuba of certain types of goods and services, telecommunications and Internet services, travel and travel services, financial services, remittances, and treatment of Cuban nationals in third countries.

If you have any questions about the content of this blog, please contact the Pillsbury attorney with whom you regularly work or Chris Wall, Steve Becker, Nancy Fischer, Aaron Hutman or Stephanie Rohrer, the authors of this blog.

Additional Source: A New U.S. Course for Cuba Relations: What Does It Mean for Business?