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December 17, 2014: OFAC reacts to Cuba sanctions executive actions

On Wednesday, OFAC issued a single-question addition to their FAQ for the Cuban sanctions program:

Q. How will OFAC implement the changes to the Cuba sanctions program announced by the President on December 17, 2014? Are the changes effective immediately?
A. OFAC will implement the Treasury-specific changes via amendments to its Cuban Assets Control Regulations. The Department of Commerce will implement the remainder of the changes via amendments to its Export Administration Regulations. OFAC expects to issue its regulatory amendments in the coming weeks. None of the announced changes takes effect until the new regulations are issued.

Links:

OFAC Notice

Link to FAQ

 

Categories: Cuba Sanctions Frequently Asked Questions (FAQ) OFAC Updates Sanctions Programs

eric9to5

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