State Dept Refreshes No-Fly List for Cuban Businesses
Published Date: 2/6/2025
Notice
Summary
The State Department just released a list of Cuban companies and groups you can’t send money to or do business with. If you’re a U.S. person or company, this means you need to watch out before making deals involving Cuba. The Commerce Department will also likely say no to exports going to these restricted Cuban entities, so plan ahead to avoid surprises!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Transactions with Listed Cuban Entities Blocked
If you are a U.S. person or company, direct financial transactions with entities on the newly published Cuba Restricted List are generally prohibited under the Cuban Assets Control Regulations (CACR). That means you must not send money to or do business with companies or groups that appear on that list.
Exports to Listed Cuban Entities Likely Denied
The Commerce Department's Bureau of Industry and Security (BIS) generally will deny export or reexport license applications for items intended for use by entities or subentities on the Cuba Restricted List. If you export goods or technology, you should expect BIS to refuse shipments for use by those listed entities.
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