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Monday, October 17, 2016

Treasury Further Eases Financial Sanctions on Cuba

As part of the Obama administration’s continued opening toward Cuba, the Treasury Department announced the easing of additional financial sanctions and limitations affecting interactions between the U.S. and Cuba. These changes follow a round of easing announced in 2015.

Effective today, persons subject to U.S. jurisdiction may open and maintain bank accounts in Cuba for transactions related to medical research or pharmaceutical importation. Persons subject to U.S. jurisdiction will also be permitted to remit funds to nationals of third countries for travel to, from or within Cuba, subject to certain conditions.

Read the rule.

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