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News: Publication of Updated Cuban Assets Control Regulations (CACR).

Publication of Updated Cuban Assets Control Regulations (CACR).

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The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is amending the Cuban Assets Control Regulations, 31 C.F.R. part 515 (the “CACR”), to further implement the new policy direction toward Cuba that the President announced in December 2014.  These changes are intended to further engage and empower the Cuban people and promote political, social, and economic reform in Cuba by easing sanctions related to, among others, scientific collaboration, humanitarian activities, trade and commerce, and travel.  The CACR amendment will be published in the Federal Register on Monday (October 17, 2016), at which time the changes will take effect.  OFAC is also publishing a number of new and updated Frequently Asked Questions, a Fact Sheet, andupdated Travel Guidance pertaining to this regulatory amendment.

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