International Trade > AG Trade Law
20 Jun '17

On June 16, 2017, the Trump administration issued a national security presidential memorandum entitled “Strengthening the Policy of the United States Towards Cuba” (the “Presidential Memorandum”). Related to this announcement, the White House issued a Cuba Fact Sheet, OFAC issued a new set of Frequently Asked Questions (FAQs) and the Department of Transportation also issued a new set of FAQs relating to the President’s announcement.

Read More

27 Oct '16

A team from Akin Gump is advising Buffalo, N.Y.-based Roswell Park Cancer Institute in a historic collaboration with Cuba-based Center of Molecular Immunology (CIM). This includes work that has secured a first-of-its-kind U.S. government license authorizing a U.S.–Cuba commercial partnership to fast-track biotech development that will help bring a groundbreaking Cuban lung cancer vaccine and other unique cancer treatments developed in Cuba to U.S. patients. This represents a landmark event in the broader rebuilding of bilateral relations between Cuba and the United States under the Obama administration's new policy of engagement.

Read More

19 Oct '16

On Monday, October 17, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) implemented amendments to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), respectively, that further ease U.S. sanctions and export controls targeting Cuba, particularly in the areas of medical research, pharmaceuticals, and trade and commerce between the United States and Cuba. These changes continue the administration’s policy of easing sanctions on Cuba to support the Cuban people and follow prior regulatory changes that occurred in January 2015, September 2015, January 2016 and March 2016. This latest action follows a Presidential Policy Directive (PPD) issued on October 14, 2016, which sets out the vision, priority objectives and actions required for normalization of relations between the United States and Cuba (see here).

Read More

17 May '16

On May 5, 2016, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) announced sanctions against 77 entities and individuals associated with the Waked Money Laundering Organization (“Waked MLO,” collectively, the “Waked Sanctions”). On May 13, 2016, OFAC updated the General Licenses and Frequently Asked Questions regarding the May 5, 2016, sanctions against the Waked Money Laundering Organization. Specifically, OFAC:

Read More

09 May '16

OFAC Sanctions

On May 5, 2016, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) announced sanctions against 77 entities and individuals associated with the Waked Money Laundering Organization (“Waked MLO,” collectively, the “Waked Sanctions”). OFAC stated that the designation was necessary to disrupt the organization’s alleged activities in laundering drug trafficking proceeds by using trade-based methods, duty-free retail, real estate development and financial services throughout the region.

Read More

06 May '16

On May 3, French fashion house Chanel hosted the first international fashion show in Cuba since the 1959 communist revolution. The Resort 2017 show was held open-air in Paseo del Prado, one of the city’s central streets. It was preceded by a tour of Havana, transportation for guests in a fleet of 170 1950s American convertibles and international celebrities Instagramming to #ChanelCruiseCuba.

Read More

17 Mar '16

On Wednesday, March 16, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) implemented amendments to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR) that further ease the U.S. sanctions and export controls targeting Cuba, particularly related to financial transactions, travel and certain trade-related activities. These changes immediately precede President Obama’s visit to Cuba next week, building upon the previous lifting of sanctions that occurred in January 2015, September 2015 and January 2016, and supplementing the upcoming resumption of commercial air services between the United States and Cuba.

Read More

28 Jan '16

On Wednesday, January 27, 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) implemented amendments to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR). These amendments further ease U.S. sanctions on Cuba, continuing the implementation of the Obama administration’s new policy direction toward Cuba, as announced in December 2014. The latest amendments build upon previous changes easing U.S. sanctions on Cuba in January 2015 and September 2015 (see prior alerts here and here).

Read More