Business in Cuba

OFAC Amendments Prior to the Visit of Obama

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Prior to President Obama’s visit to Cuba, the Commerce Department’s Bureau of Security and Industry (BIS) and Treasury’s Foreign Assets Control Office (OFAC) made amendments to Export Admin Regulations (EAR) and the Cuban Asset Control Regulations (CACR). These amendments follow recent, similar changes implemented by the Obama government. They are designed to nurture direct interaction with the Cuban population by encouraging trade with Cuban businesses and lifting travel restrictions. Americans will be allowed to enter Cuba for educational purposes as long as they partake in specific learning activities on a full-time basis. These activities must contribute to Cuban society, facilitate relations with Cubans, or support the independence of Cubans. Travelers must interact in a meaningful way with the Cuban people. OFAC will allow Cuban nationals…

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