OFAC changes include business meetings in Cuba

A little over a year later from the start of historic talks between the United States and Cuba, Americans are now permitted to attend and hold business meetings in Cuba. These meetings or conferences must be planned and organized by an international professional organization. Recent amendments to the Cuban Assets Control Regulations (CACR) (the embargo) were announced by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) earlier this week. A press release from the Treasury Department stated “These amendments will further facilitate travel to Cuba for authorized purposes related to professional meetings and other events.” The OFAC amendments regarding business meetings in Cuba state: “Professional meetings organized by an international professional organization. Full-time professionals are authorized to engage in Cuba travel-related transactions and such…

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