Today, the U.S. Treasury Department announced significant amendments to OFAC’s Cuban Assets Control Regulations which are meant to implement an April 2009 Presidential initiative on Cuba. We will send you more information once we have fully analyzed the amended regulations. In the meantime, we summarize today’s announcement, noting that the amendments include limitations not listed here.
Telecom Links with Cuba
- U.S. companies may contract with and pay another U.S. company or a non-Cuban company to provide telecom services to Cuba.
- U.S. companies may contract directly with a Cuban individual to provide telecom services.
- U.S. persons may engage in transactions related to the provision of telecom or satellite services in Cuba, including contracts with Cuban telecom companies for the provision of wireless roaming services in Cuba.
- While Commerce’s Bureau of Industry and Security retains licensing jurisdiction over the U.S. goods to be exported to Cuba, U.S. companies may enter into transactions incident to establishing facilities to provide telecom links between the U.S. and Cuba, such as fiber optic cable or satellite links.
- Representatives from U.S. companies may travel to Cuba in order to establish or maintain these business contacts, although conditions apply.
Family Members in Cuba
- Lifts restrictions on the frequency and duration of travel to visit “close relatives” in Cuba. Travel-related expenditure limits have been relaxed to match limitations on other types of Cuba-related travel.
- Lifts restrictions on the frequency and amount of remittances sent to “close relatives” in Cuba. Family travelers may carry up to $3,000 of such remittances to Cuba.
- U.S. banks may facilitate such remittances. They may set up arrangements with Cuban financial institutions for these purposes.