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1 [1] (June 21, 2017)

handle is hein.crs/crsmthmbccz0001 and id is 1 raw text is: CRS INSIGHT Cuba: President Trump Partially Rolls Back Obama Engagement Policy June 21, 2017 (IN10722) Related Author *Mark P Sul livan Mark P. Sullivan, Specialist in Latin American Affairs (msullian rs c v, 7-7689) On June 16, 2017, President Trump unveiled his Administration's DoQicy on Cu, which partially rolls back some of the Obama Administration's efforts to normalize relations with Cuba. President Trump set forth his Administration's policy in a apgh in Miami, FL, where he signed a naional s ity reidnia mernd rn b replacing President Obama's October 2016 presiden ial lic ir ei, which had laid out objectives for the normalization process. The new policy leaves most of the ama -r li ch nes in place, including the reestablishment of diplomatic relations and a variety of eased sanctions to increase travel and commerce with Cuba. The most significant policy changes include (1) restrictions on financial transactions with companies controlled by the Cuban military, intelligence, or security services or personnel and (2) the elimination of individual people-to-people travel. President Trump's memorandum directed the heads of departments (Treasury and Commerce, in coordination with the State Department) to initiate a process within 30 days to adjust current regulations. The policy changes will not take place until the amended regulations are issued; the Treasury Department, for example, indicated that it expects to issue its regulatory amendments in the coming months. Restrictions on Transactions with the Cuban Military The S is tasked with identifying entities controlled by the Cuban military, intelligence, or security services or personnel and publishing a list of those entities with which direct financial transactions would disproportionately benefit those services or personnel at the expense of the Cuban people or private enterprise in Cuba. Financial transactions with those entities are to be prohibited, with certain exceptions, including transactions related to air or sea operations supporting permissible travel, cargo, or trade; the sale of agricultural and medical commodities; direct telecommunications or Internet access for the Cuban people; and authorized remittances. Moreover, transactions that further the national security or foreign policy interests of the United States are to be permitted. The memorandum specifically identifies the Grupo de Administraci6n Em resarial SA (GAESA), a holding company of the Cuban military involved in most sectors of the Cuban economy, particularly the tourism sector. Given the Cuban mihtarya significant inyQ'ymemnt in the ecnomy, the new prohibitions could limit future U.S. economic engagement with Cuba, depending on the forthcoming amended regulations and their implementation.

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