US tightens financial and travel restrictions on Cuba

WASHINGTON, United States (CMC) — The United States has imposed new financial and travel restrictions on Cuba, barring US banks from maintaining certain accounts for Cuban private entrepreneurs and reversing measures introduced by the Biden administration to expand the island’s access to the US financial system.

The new measures also eliminate authorisation for certain international payments involving Cuba to pass through US banks and restrict some categories of educational and professional travel to the island.

The changes to the Cuban Assets Control Regulations took effect Wednesday after the Treasury Department’s Office of Foreign Assets Control (OFAC) published the amendments a day earlier.