On March 15, 2016, in advance of the historic visit to Cuba by the President, the United States announced significant amendments to existing Cuba-related economic sanctions and export control regulations to implement the changes introduced by President Obama on December 17, 2014. Although these new measures reflect further liberalization of US economic and trade policy toward Cuba, the Cuba embargo remains in place, and many transactions between the US or persons subject to US jurisdiction and Cuba continue to be prohibited.
In this alert:
Banking and Financial Services
U-turn payments through US financial system and unblocking of previously blocked funds
Processing of US dollar monetary instruments
US bank accounts for Cuban nationals
Trade and Commerce
Importation of software
Cuban private sector
Travel and Related Transactions
People-to-people educational travel
Payment of salaries
Cuban-origin merchandise and services
Grants and Awards
Educational grants and awards
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