Doing Business in Cuba: Navigating the Evolving Sanctions Landscape, Leveraging New Opportunities

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, April 12, 2016

Recorded event now available

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Program Materials

This CLE webinar will provide guidance for counsel to U.S. companies considering doing business in or with companies in Cuba. The panel will review sanctions that have been lifted and those that remain in place. The panel will also discuss how to ensure compliance with sanctions and customs requirements in order to take advantage of potential business opportunities in Cuba.

Description

The Cuban market is opening up and becoming more accessible to U.S. companies and Americans. U.S. companies are seeing new opportunities in Cuba as a result of changes in several sectors in particular. In Jan. 2016, the Office of Foreign Asset Control (OFAC) amended the Cuban Assets Control Regulations (CACR) to ease restrictions on travel, financing and more.

In corresponding actions, the Bureau of Industry and Security (BIS) revised the Export Administration Regulations (EAR) to create a more favorable environment for exports of U.S. origin goods to Cuba, including for items related to telecommunications, air transportation, and certain infrastructure projects.

Despite the easing of sanctions and opening of significant new opportunities, counsel to companies moving forward with investment in Cuba-related ventures must understand the continuing hurdles and steps necessary for compliance.

Listen as the panel explains the many changes to U.S. sanctions and export controls on Cuba and what those changes mean for U.S. companies, including their non-U.S. affiliates. The panel will also discuss best practices for navigating this new regulatory landscape.

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Outline

  1. Changes to OFAC and BIS regulations
    1. Background on OFAC regulations on Cuba
      1. Chronology of changes
      2. Details of January 2016 amendments
    2. Background on BIS regulations related to Cuba
      1. Chronology of changes
      2. Details of January 2016 amendments
  2. Leveraging new opportunities
    1. What U.S. companies and persons can/cannot do
    2. Role/involvement of non-U.S. companies
  3. Compliance best practices

Benefits

The panel will review these and other key issues:

  • What business activities are permissible for U.S. companies with respect to Cuba? How does the lifting of sanctions provide new opportunities for U.S. businesses?
  • What policy has been established for export and re-export to Cuba by BIS?
  • What steps should companies take to promote OFAC and export control compliance with respect to Cuba?

Faculty

Jeff Kruszewski
Jeff Kruszewski
Vice President and Senior Corporate Counsel
U.S. Bank
Thaddeus R. McBride
Thaddeus R. McBride

Partner
Bass Berry & Sims

Mr. McBride represents companies and individuals in international trade regulatory, compliance, investigative, and...  |  Read More

Cheryl A. Palmeri, Esq.
Cheryl A. Palmeri, Esq.

Bass Berry & Sims

Ms. Palmeri advises public and private companies on best practices in international trade compliance. She counsels...  |  Read More

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