Cuban Assets Control Regulations
What happened
The Department of the Treasury's Office of Foreign Assets Control (OFAC) is changing the Cuban Assets Control Regulations. These changes implement parts of the President's foreign policy toward Cuba, as outlined in the 2025 NSPM-5 signed on June 30, 2025. This rule adds a ban on indirect financial transactions with entities on the Cuba Restricted List, removes authorization for "U-Turn" transactions, and eliminates authorizations for group people-to-people travel and professional meetings in Cuba.
Why it matters
These changes make it harder for individuals and organizations to conduct financial transactions with certain Cuban entities. They also reduce options for certain types of travel to Cuba, impacting cultural and professional exchanges previously permitted.
Who it affects
- ›Anyone conducting financial transactions with Cuba
- ›Entities on the Cuba Restricted List
- ›Travelers planning group people-to-people trips to Cuba
- ›Professionals planning meetings in Cuba
The receipts are official. The summary is ours.
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