Article
OFAC Expands Cuba Sanctions And Updates Iran Sanctions
The U.S. Treasury's Office of Foreign Assets Control has issued sweeping regulatory changes affecting Cuba and Iran sanctions programs, introducing new restrictions on financial transactions, travel authorizations, and banking activities. These amendments establish separate regulatory frameworks, expand prohibited transaction categories, and consolidate penalty provisions across multiple sanctions programs, creating significant compliance implications for U.S. persons and foreign financial institutions.
Steptoe LLP