U.S. Cuban Policy Update
On June 16, 2017 President Trump issued a Presidential Memorandum on Strengthening the Policy of the United States Toward Cuba. In a speech on that date to Cuban-Americans in Miami, President Trump stated that he was immediately cancelling the Obama Administration's "one-sided deal with Cuba". The question is whether this new policy will impact international shipping.
In October 2016 the U.S. Treasury, Office of Foreign Assets Control ("OFAC") announced further amendments to the Cuban Asset Control Regulations ("CACR"), which restrict the scope of the application of the "180 day rule," by permitting ships to carry a wider range of cargos to be imported to Cuba from third countries without their being subject to the '180 day rule'.
U.S eases '180 Day rule' on trade with Cuba
On October 14, 2016, the U.S. Departments of the Treasury and Commerce announced further amendments to the Cuban Asset Control Regulations "(CACR") one of which will directly impact international shipping.