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OFAC Humanitarian Aid Fact Sheet: Cuba

Cuba The Cuba embargo targets Cuba’s Communist regime, which has for decades oppressed the Cuban people and failed to meet their most basic needs. Though the Cuba embargo remains in place, and most transactions between the United States, or persons subject to U.S. jurisdiction, and Cuba continue to be prohibited, […]

OFAC issues Humanitarian Assistance Fact Sheet

Publication of a Fact Sheet on the Provision of Humanitarian Assistance and Trade to Combat COVID-19 4/16/2020 On April 16, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued a Fact Sheethighlighting the most relevant exemptions, exceptions, and authorizations for humanitarian assistance and trade under the Iran, Venezuela, North […]

OFAC Enforcement Action: General Electric

For a period of over 3 years, GE appears to have violated the Cuban Assets Control Regulations (CACR) 289 times, resulting in a settlement of $2,718,581, as opposed to a base penalty of $3,377,119 and a maximum statutory penalty of $17,785,000. This is what happened: Specifically, between December 2010 and […]