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June 16, 2017

Trump Issues New Cuba Policy Restricting Travel, Transactions Involving Cuba

Today, the White House unveiled that it is changing U.S. policy toward Cuba by reinstituting certain restrictions on travel and other business involving Cuba, previously eased under the Obama administration.   The Trump administration stated that the previous policy enriched and rewarded the Cuban military regime.  The new policy enhances travel restrictions involving Cuba, and include ending individual (not group) “people-to-people” travel.  The new U.S. policy also prohibits certain direct financial transactions with the Cuban military, security, and intelligence services.  The Treasury and Commerce Departments will soon issue regulations in the coming months implementing the changes.  The policy does not go into effect until then.  OFAC has already released new FAQs pertaining to the changes.