State Department Revives Cuba 'Naughty List' for US Businesses
Published Date: 2/6/2025
Notice
Summary
The State Department is bringing back its list of Cuban groups and companies that U.S. folks generally can’t send money to or do business with. This means exports to these Cuban entities will usually be blocked, starting February 6, 2025. If you’re involved in trade or finance with Cuba, watch out—these rules could affect your deals and money moves.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Direct Money Transfers Generally Blocked
Starting February 6, 2025, direct financial transactions with the entities and subentities on the State Department's "Cuba Restricted List" are generally prohibited under the Cuban Assets Control Regulations (see 31 CFR 515.209). If you send money or do business directly with any named entity on that list, those payments or transactions are generally not allowed.
Exports to Listed Cuban Entities Denied
The Department of Commerce's Bureau of Industry and Security (BIS) will generally deny export or reexport license applications for items intended for use by entities or subentities on the Cuba Restricted List. This denial policy is effective in connection with the list published on February 6, 2025.
Hotels, Tours, Stores Listed—Payments Blocked
The Cuba Restricted List published February 6, 2025 names many hotels, tourist agencies, marinas, and stores (for example many named hotels in Havana, Varadero, and other locations). Direct payments to those named tourist businesses and stores are generally prohibited under the Cuban Assets Control Regulations.
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