On September 21, 2015, the United States further amended existing regulations to implement the changes announced by President Obama on December 17, 2014 liberalizing US sanctions and export controls targeting Cuba. As a result, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) amended its existing economic sanctions regulations and the US Department of Commerce's Bureau of Industry and Security (BIS) amended its export control regulations relating to Cuba. The amended regulations, which became effective on Monday, September 21, 2015, revise and expand upon prior regulatory changes issued by OFAC and BIS on January 16, 2015 (the "January 2015 amendments") to implement President Obama's Cuba policy.[1]