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CUBAQ: What restrictions do the sanctions against Cuba place on American citizens?A: Except for publications, other informational materials, certain donated food, and certain goods licensed by the Department of Commerce, no products, technology or services may be exported directly or through a third country to Cuba. Unless otherwise authorized, no vessel carrying goods or passengers to or from Cuba or carrying goods in which Cuba or a Cuban national has any interest may enter a U.S. port. U.S. citizens may not deal in any property in which Cuba or a Cuban national has an interest, including U.S. subsidiaries located overseas. Americans also may not buy from or sell to Cuban nationals or other individuals and organizations doing business or acting on behalf of Cuba anywhere in the world. Q: Are there other restrictions that affect foreign companies or nationals residing or doing business in the U.S.? A: Yes, goods or services of Cuban origin may not be imported into the U.S. either directly or through third countries with the exception of publications, artwork or other informational materials. Also, like U.S. citizens, anyone subject to U.S. jurisdiction may not deal in any property in which Cuba or a Cuban national has an interest, including things such as purchasing Cuban cigars in Mexico, or signing a contract with a European firm if the contract includes Cuba-related provisions, even if those provisions are contingent on the embargo ending. Q: What are the restrictions on Cuban assets? A: Cuban assets, both governmental and private, are completely blocked when they come into the possession or control of persons subject to U.S. jurisdiction. Any bank in the U.S. or overseas branch or subsidiary of a U.S. bank that receives unlicensed wire transfer instructions in which there is a Cuban interest must freeze the funds on their own books regardless of origin or destination. Q: How long have these sanctions been in place? A: These sanctions have been in place since July 1963 under the Trading With the Enemy Act, in response to certain hostile actions by the Cuban government. Q: What happens if a person subject to U.S. jurisdiction comes to possess "blocked" Cuban property? A: That person must register with the U.S. Treasury Department's Office of Foreign Assets Control. Anyone subject to U.S. jurisdiction who engages in any commercial dealings that involve unauthorized trade with Cuba, even if indirectly, risk substantial monetary penalties and criminal prosecution. |