These recent changes are consistent with a general trend towards clarifying the complex U.S. It also has substantially revised the definition of what constitutes goods of Iranian origin. Most specifically, OFAC has made key changes to existing regulations allowing the exportation to Iran of many humanitarian items that make such exporters in some ways more commercially feasible to U.S. sanctions infrastructure in place against Iran. Department of the Treasury’s Office of Foreign Assets Control (OFAC) yesterday announced a series of key revisions to the Iranian Transactions and Sanctions Regulations (the “ITSR”), one of the key bodies of regulations implementing the still far-reaching U.S. sanctions law in regards to Cuba, seeking out an attorney well versed in this area is your best bet.The U.S. person or entity should have when dealing with Cuba. However, while the sanctions have been relaxed and it looks likely that more changes will be forthcoming, there are still a number of concerns a U.S. Undoubtedly the easing of the sanctions will have a dramatic effect on U.S.-Cuba relations, particularly from a business standpoint. Department of Commerce Bureau of Industry and Security. Moreover, exportation of telecommunications equipment to Cuba still requires an export license from the U.S. These reporting requirements include the need for filing notifications regarding the establishment or termination of service, and annual reporting on all activity. The general licenses which are part of the update, while vastly easing the restrictions on telecommunications in relation to Cuba, still require certain reporting. telecom providers can now enter into roaming agreements with providers in Cuba and make payments in relation to those agreements. and Cuba easier by provides a general license for transactions required to establish such links Ĥ.
The update now makes establishing telecommunications links between the U.S. through telecommunication links between third countries and Cuba ģ. Specific licenses will now be issued to facilitate the communction between the Cuba and the U.S. Telecommunications providers’ personnel are now authorized to travel to Cuba for multiple business purposes Ģ. There are four major changes in which the update significantly impacts telecommunications and Cuba. Today I would like to shed a little light on the effect the changes have for telecommunications. Last week I posted on the changes to the travel restrictions. As announced earlier this month the United States Department of the Treasury Office of Foreign Assets Control (OFAC) has updated the Cuban Assets Control Regulations (CACR) to include some changes involving travel restrictions, remittances, telecommunications, agricultural and medical products, and gifts/humanitarian donations.
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