Treasury Department updates Cuban rules

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is amending the Cuban Assets Control Regulations, 31 CFR Part 515 (the “CACR”), to implement additional revisions consistent with the policy changes announced by President Obama on Dec. 17, 2014.

The amendments affect travel, travel and carrier services remittances, trade and business, banking and telecommunications, and went into effect on Sept. 21, 2015.

For a detailed look at the changes and answers to frequently asked questions related to Cuba, visit and search the Press Center for the Sept. 18, 2015, press release titled “Treasury and Commerce Announce Further Amendments to the Cuba Sanctions Regulations.” The information is clear, concise and a must-read for voyagers considering visiting Cuba. 

By Ocean Navigator