Cuba

The United States of America is the only major country currently implementing sanctions against Cuba. These sanctions are comprehensive and prohibit all persons subject to US jurisdiction, including subsidiaries and branches of US organisations, from most dealings in which Cuba or a Cuban national has an interest. President Obama has taken steps to "chart a new course" in US-Cuba relations, and amendments to US Cuba-related sanctions and export control regulations have been implemented, but they remain very narrow in scope.

Subject to limited general licenses, dealings prohibited under the US Cuban regime include trading activities between the countries, general travel to or from Cuba, and sending or receiving funds, among many other items.  Provided that certain criteria are met, the US Office of Foreign Assets Control (OFAC), the primary US sanctions regulator, may grant a specific license to engage in otherwise prohibited activities.

Accordingly, US nationals and companies (and entities they own or control) generally may not be involved in transactions concerning Cuba, including execution or decision-making related to such transactions, and US banks may not clear US dollar payments concerning business transactions with Cuba.

Useful links

General