Cuban Assets Control Regulations

Summary of Cuban Assets Control Regulations

U.S. government regulations, promulgated under authority of Section 5 (b) of the Trading with the Enemy Act, that forbid unlicensed importation of any product manufactured in Cuba, or manufactured in whole or in part of Cuban components irrespective of place of manufacture, or any product, irrespective of origin, transported from or through Cuba. Likewise, exports to Cuba (excepting licensed shipments of certain medicines and special foods for humanitarian reasons) are prohibited. The secretary of the treasury may grant exemption to the regulations by issuance of a validated import or export license. Persons or firms found to be in violation of the regulations are subject to civil and criminal penalties.

(Main Author: William J. Miller)