U.S. amendments to Cuban assets control regulations

OFAC also published new and updated “frequently asked questions”

OFAC also published new and updated “frequently asked questions”

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) today released for publication in the Federal Register a final rule that amends the Cuban assets control regulations to “increase support for the Cuban people.”

Today’s final rule [PDF 272 KB]:

  • Authorizes group people-to-people educational travel to Cuba
  • Removes certain restrictions on authorized academic educational activities
  • Authorizes travel to attend or organize professional meetings or conferences in Cuba
  • Removes the $1,000 quarterly limit on family remittances
  • Authorizes donative remittances to Cuba

The amendments also add or update several cross-references.

OFAC today also published a number of new and updated “frequently asked questions” (FAQs).
 

For more information, contact a professional with KPMG’s Trade & Customs services:

Doug Zuvich
Partner and Global Practice Leader
E: dzuvich@kpmg.com

John L. McLoughlin
Principal and East Coast Leader
E: jlmcloughlin@kpmg.com

Andy Siciliano
Partner and National Practice Leader
E: asiciliano@kpmg.com

Steve Brotherton
Principal and Global Export and Sanctions Leader
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Luis (Lou) Abad
Principal, Washington National Tax
E: labad@kpmg.com

Irina Vaysfeld
Principal
E: ivaysfeld@kpmg.com

Amie Ahanchian
Principal
E: aahanchian@kpmg.com

Christopher Young
Principal
E: christopheryoung@kpmg.com

Gisele Belotto
Principal
E: gbelotto@kpmg.com

George Zaharatos
Principal
E: gzaharatos@kpmg.com

Andy Doornaert
Managing Director
E: adoornaert@kpmg.com

Jessica Libby
Principal
E: jlibby@kpmg.com

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