Article
OFAC Expands Cuba Sanctions And Tightens Financial And Travel Restrictions
The U.S. Treasury's Office of Foreign Assets Control has implemented sweeping changes to Cuba sanctions, establishing a new regulatory framework that targets foreign persons and financial institutions while significantly restricting previously authorized activities. These measures create potential sanctions exposure for non-U.S. businesses and banks conducting Cuba-related transactions, fundamentally altering the compliance landscape for international financial intermediaries.
Herbert Smith Freehills Kramer LLP