OFAC amends Cuba Assets Control Regs

OFAC has amended the Cuban Assets Control Regulations (CACR) to further implement parts of the president's foreign policy toward Cuba. The changes are meant to deny the Cuban government access to funds in connection with remittances to Cuba. The rule was published in the October 27, 2020, Federal Register, and will be effective 30 days later, on November 26, 2020.

OFAC included in its announcement links to ten FAQ updates and one new FAQ related to the CACR.