US to Lift Certain Restrictions on Cuba-Related Remittances
The U.S. will loosen some Trump-era restrictions on Cuba-related remittances, the State Department announced this week. The administration plans to remove the current limit on family remittances of $1,000 per quarter per “sender-receiver pair,” and it also will authorize donative, or non-family, remittances to “support independent Cuban entrepreneurs.” The agency said it will work with electronic payment processors to “encourage increased Cuban market accessibility.”
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But the State Department also stressed that it doesn’t plan to remove entities from the Cuba Restricted List, which includes companies, agencies and properties subject to certain U.S. sanctions. The State Department said May 16 that its goal is “further empowering families to support each other and for entrepreneurs to expand their businesses.” U.S. agencies will implement the changes in “short order.”
The Office of Foreign Assets Control in 2020 announced sanctions and restrictions to limit the use of certain licenses and prohibit a range of activities in Cuba (see 2009230029), including general licenses that authorized certain remittance-related payments (see 2010230024).