U.S further amends Cuban asset control Regulations
On December 17, 2014, President Obama announced a new U.S Policy intended to normalise relations with Cuba.
Toward implementation of that policy, the Cuban Asset Control Regulations ("CACR") were amended in January 2015.
Further amendments were recently announced by the Treasury Department's Office of Foreign Asset Control ("OFAC") and went into effect on September 21, 2015.
The U.S State Department announced that, effective October 12, 2017, the U.S sanctions against Sudan imposed under E.0.s 13067 and 13412 will be revoked.
On May 8, 2019, exactly one year after President Trump announced that the United States was withdrawing from the Joint Comprehensive Plan of Action (“JCPOA”) and would re-impose the U.S. secondary sanctions against Iran, President Trump issued an Executive Order “Imposing Sanctions with Respect to the Iron, Steel, Aluminum, and Copper Sectors of Iran.”
The UK P&I Club have received the following update from Freehill Hogan & Mahar LLP, regarding the recent sanctions imposed on Iran by the U.S. administration.
