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Cuba Embargo News from Moore & Company

Cuba Embargo Tightened

But Still Open to Yachts

 

"WASHINGTON, D.C., Nov. 8, 2017 – Today, new rules were announced which tighten the economic embargo on Cuba.  The changes increase restrictions on travel to the island and prohibit Americans from doing business with hotels, stores and other businesses tied to the Cuban military.

 

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS) announced amendments to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), respectively, to implement changes to the Cuba sanctions program announced by the President in June. The State Department is taking parallel steps to implement these policy changes, which have the stated purpose of “channeling economic activities away from the Cuban military, intelligence, and security services, while maintaining opportunities for Americans to engage in authorized travel to Cuba and support the private, small business sector in Cuba.” The changes will take effect on Thursday, November 9, 2017, when the regulations are published in the Federal Register.

 

According to Treasury Secretary Steven Mnuchin: “We have strengthened our Cuba policies to channel economic activity away from the Cuban military and to encourage the government to move toward greater political and economic freedom for the Cuban people”

 

The most significant change effecting American travelers is the elimination of the individual people-to-people license.  People-to-people travel will once again be limited to trips involving authorized tour operators, and tour guides, who will have to accompany the groups in Cuba.  Travelers will also have to be careful when selecting on island accommodations not to choose a hotel connected to the Cuban military and on the State Department’s List of Restricted Entities.

 

The good news is that the new regulations will not prevent yachts from traveling from the United States to Cuba.   Moore & Co. has advised more than 250 yachts in how to legally travel to Cuba and will continue to do so under the new rules."

 

ABOUT MOORE & COMPANY 
Moore & Co, P.A. is a Miami-based, full service law firm assisting maritime, aviation and art clients throughout the world. The firm provides focused and hands-on representation in commercial litigation, personal injury claims, purchase and sale transactions and new-build projects.

 

Naughton, Clay. “Cuba Embargo Tightened But Still Open to Yachts.” Moore-and-Co.com, 8 Nov. 2017, http://tinyurl.com/ycy7nkkk

 

Disclaimer: This article is for general information purposes only. This information is not legal advice, is not to be acted on as such, may not be current and is subject to change without notice. You should consult with a maritime lawyer knowledgeable in this area as each circumstance is unique.

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