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 Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) measures support expanded trade between the countries. Specifically, the U.S. Government amended the existing Cuba Regulations (Cuban Assets Control Regulations and Export Administration Regulations) in several key areas:
- medical and pharmaceutical research and distribution;
- contingent contracts (of all kinds);
- infrastructure projects;
- humanitarian activities;
- exports/reexports and eCommerce;
- civil aviation; and
- certain travel and cargo-related transactions.