This week, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) published new Cuba Sanctions Regulations implementing President Trump’s Executive Order 14404, “Imposing Sanctions on Those Responsible for Repression in Cuba and Threats to the United States National Security and Foreign Policy,” which invokes the International Emergency Economic Powers Act (IEEPA) to significantly broaden and sharpen sanctions and economic pressure on Communist Cuba, its repressive military and intelligence apparatus, subversive and terror networks, and financial enablers. Treasury also amended the longstanding Cuban Assets Control Regulations (CACR) to close loopholes the Cuban regime has long exploited to engage in sanctions evasion, enrich regime insiders, and fund dangerous subversive and military activities which threaten the national security of the United States.
The Trump Administration remains committed to leveraging all available sanctions authorities to drive meaningful reform in Cuba, support the Cuban people’s aspirations for freedom, and hold accountable the individuals and entities that pose a threat to the national security of the United States.