OFAC Amends Cuba Regulations to Allow More Licensing, Transaction Authorizations
The Office of Foreign Assets Control has issued a final rule, effective January 28, 2011, which amends the Cuban Assets Control Regulations to implement policy changes to, among other things, allow for greater licensing of travel to Cuba for educational,…
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cultural, religious, and journalistic activities and expand licensing of remittances to Cuba. These amendments also modify regulations regarding authorization of transactions with Cuban national individuals who have taken up permanent residence outside of Cuba.