President’s Trip to Cuba Accompanied by Expanded Treasury and Commerce Regulations -

On March 20, President Obama arrived in Cuba for an historic visit, marking a significant step in the Obama Administration’s efforts to normalize relations, a process that began in December 2014. The Administration has stated that while normalization will be “a complex, long-term process,” the United States will continue to “engage and work through challenges in order to empower the Cuban people and advance the interests of the United States.” Key issue areas for this initiative include connecting the U.S. and Cuban people, bolstering agricultural cooperation, and expanding business and commercial ties.

In the days leading up to President Obama’s visit, the Treasury Department Office of Foreign Assets Control (OFAC) and the Commerce Department Bureau of Industry and Security (BIS) issued amendments to their Cuba regulations, effective March 16, 2016. These updates follow a series of amendments which began in January 2015 to expand opportunities for engagement with Cuba and the Cuban people. These recent updates also come on the heels of the February 2016 announcement from the Department of Transportation that the United States is permitting the re-establishment of scheduled air services between the United States and Cuba. Select highlights from the March 2016 updates appear below. For more information, see the regulations and this fact sheet.