U.S. Government Implements President Obama's Historic Changes in Policy Regarding the Cuba Sanctions Program
16 January 2015Sanctions and Export Controls Alert
The U.S. Treasury Department and the U.S. Commerce Department have published new rules implementing the policy changes announced by the president on 17 December 2014 regarding the historic shift in U.S. relations with Cuba. While the statutory embargo and extensive sanctions remain in place, these changes are significant and provide a number of opportunities for U.S. companies to pursue commercial business opportunities in Cuba in certain sectors, including telecommunications infrastructure and services, consumer communications devices, agriculture, environmental protection, travel services, banking, and insurance. Some strong political opposition remains, however, and certain members of Congress expressed immediate concern.