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Cuba Amendments

On January 27, 2016, new changes to the Cuban Assets Control Regulations (CACR) and the EAR went into effect, continuing the President’s policy of expanding relations with Cuba. Restrictions will be lifted on authorized exports and reexports, allowing U.S. banks to provide financing. This change will not apply for agricultural items and commodities. BIS has announced the addition of categories of licenses that will have a policy of approval, including commodities intended to strengthen civil society, telecom, and items necessary for civil aviation safety (including to state owned enterprises). A general policy of denial remains for exports to state owned enterprises, enterprises engaged in the extraction of raw minerals, and any item destined for the Cuban military or police.

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