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Reduced Sanctions on Cuba

President Obama announced there will be a reduction in current U.S. import and export sanctions on Cuba today.

 Initially, these sanction reductions will result in the lessening of restrictions on Cubans traveling to Cuba to visit relatives and ability to import Cuban cigars into the U.S.

  In the weeks ahead, amendments to both OFAC’s Cuban Assets Control Regulations and Commerce’s Export Administration Regulations will be removing a number of existing travel and trade related restrictions with Cuba.

 It is expected, however, that commercial trade with Cuba will remain very limited as removal of meaningful and usable trade rights will require Congressional action.

 

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