OFAC Further Eases Cuba Sanctions Before President’s Visit

In the weeks preceding President Obama’s historic visit to Cuba, the US Treasury Department’s OFAC announced new measures to further ease economic sanctions against the country. Like other sanctions relief measures implementing the President’s shift in policy toward Cuba, these recent measures are directed to further support the Cuban people. Among other things, they expand to individual travellers the Cuba travel authorization for people-to-people exchanges, broaden the scope of authorized financial transactions involving Cuba, and authorize new categories for US businesses
to establish operations in Cuba. In connection with the rulemaking OFAC published new and updated Frequently Asked Questions and a Fact Sheet summarizing the changes.