Tag Archives: OFAC

While Cuban Embargo Remains, Latest Round of Historic U.S. Changes Foster Increased Trade

While the nearly comprehensive U.S. embargo on trade with Cuba remains and will require an act of Congress to be eliminated, the U.S. government has issued another round of measures further easing the U.S. sanctions and export control restrictions against Cuba.  Effective Oct. 17, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets … Continue Reading

The Next Modest Wave of Cuba Thaw—U.S. Eases Restrictions on Exports, Export Trade Financing, and Artistic Productions

On Jan. 27, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) once again amended the existing Cuban Assets Control Regulations (Cuba Sanctions Regulations) to open the door for further U.S. engagement with Cuba. The amendments remove certain restrictions on the financing of exports to Cuba as well as restrictions on … Continue Reading

U.S. Sanctions Mexican Executive, Airline, and Newspaper Tied to Drug Trafficking Organization

On Dec. 16, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a Mexican national, Naim Libien Tella, and four Mexican entities linked to Libien Tella, under the Kingpin Act. The new designations, which include a Mexican airline and newspaper, stem from Libien Tella’s narco-trafficking activities in association with the … Continue Reading

U.S. Authorizes Transactions with Certain Belarusian Entities

Effective Oct. 30, 2015, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a Belarus-related General License authorizing U.S. persons to engage in all previously prohibited transactions with certain Belarusian entities despite OFAC’s sanctions against certain targeted individuals and entities in Belarus. The General License, however, contains a reporting obligation that … Continue Reading
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