Wadda FAQ with OFAC?

Charly Morales Valido, on: Business
Wadda FAQ with OFAC?

Treasury's Office of Foreign Assets Control (OFAC) explained better the United States interim policy towards Cuba. Back on June 16, OFAC said that the only category of authorized travel by U.S. travelers that would be affected were individual people-to-people trips. President Donald Trump said such trips would be banned 'coz travelers have used that category to disguise trips that are purely for the forbidden tourism.

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"The new policy will also impact certain categories of educational travel as well as travel under support for the Cuban people.", stated without further details the Office. It will also impact certain categories of educational travel as well as travel under support for the Cuban people.

Those traveling to Cuba legally under permitted travel categories wouldn’t have to apply for licenses. Until the new rules are published, U.S. travelers may continue to visit Cuba under 12 categories of permissible travel that were outlined during the Obama administration.

There isn’t a specific date yet for release of the new regulations, according to Treasury. The updated OFAC publication also stated that the definition of “prohibited members of the Cuban government” has been expanded and that “may exclude certain persons from receipt of ... remittances.”

Until the new regulations are released, the Obama-era rules on Cuba remain in effect. Would it get worse? Who knows? We are talking about Trump, anything is possible...



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