🚫Updated Cuba Restricted List
Updating Cuba Restricted List
Summary
The Department of State is adding seven Cuban military- controlled hotels to the List of Restricted Entities and Sub entities Associated With Cuba (Cuba Restricted List or CRL) identifying entities and sub entities under the control of, or acting for or on behalf of, the Cuban military, intelligence, or security services or personnel with which direct financial transactions would disproportionately benefit such services or personnel at the expense of the Cuban people or private enterprise in Cuba. The Cuban Assets Control Regulations generally prohibit a person subject to U.S. jurisdiction from having direct financial transactions with the entities and sub entities on the CRL. The Department of Commerce's Bureau of Industry and Security generally will deny applications to export or reexport items for use by entities or sub entities on the CRL.
Agencies
- State Department
Business Impact
$$$ - High
The text outlines new restrictions on direct financial transactions with specific Cuban entities connected to military or security services. Businesses with interests in Cuba must ensure compliance to avoid penalties, particularly concerning the expanded list of restricted hotels and entities, suggesting a direct impact on travel and tourism-related businesses.