The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced new restrictions within the sanctions program against Cuba, with changes that will take effect on September 30.
According to the agency, the modifications seek to strengthen Washington’s national security and foreign policy tools in the face of the ongoing threat posed by the Cuban regime.
The new provisions modify the Cuban Asset Control Regulations (CACR) and restrict some activities that were previously authorized.
Among the main changes are new limitations on travel to Cuba, restrictions on certain financial operations, and the elimination of authorizations that had facilitated some transactions with the island’s private sector.
As of September 30, individuals subject to U.S. jurisdiction will no longer be able to attend or organize professional meetings or conferences in Cuba under the previously existing general authorization.
OFAC established a 30-day period to conclude certain activities and transactions related to that authorization, which will end on October 30, 2026.
The rules for educational trips related to Cuba were also modified.
These must be carried out under the auspices of an organization subject to U.S. jurisdiction and, in most cases, travelers will need to be accompanied by a representative of the sponsoring organization.
There are exceptions for students and permanent employees of accredited U.S. institutions that grant undergraduate or graduate degrees and who participate in certain educational activities.
In addition, the group educational travel program known as “people-to-people” is no longer authorized.
OFAC clarified that those who had already completed at least one travel-related transaction—such as purchasing an airline ticket—before September 30 will be able to make those trips when they were previously authorized.
Another modification expands the prohibition on financial transactions with entities included in the Cuba Restricted List (CRL).
From now on, individuals subject to U.S. jurisdiction will be prohibited from conducting direct or indirect financial transactions with the entities or sub-entities included on that list.
The CRL, administered by the State Department, includes companies and agencies that are under the control of, act on behalf of, or benefit Cuban military, intelligence, or security structures, according to Washington’s definition.
The measure also covers operations in which a person acts as an intermediary in a transfer of funds between an entity included on the list and another person.
OFAC also eliminated the authorization known as “U-Turn” for certain transactions related to Cuba. @ADNCuba
Original article
Comments