In a series of actions on April 17, the Trump administration announced the implementation of additional sanctions on the “Troika of Tyranny” in the Western Hemisphere (see Trump and Trade Update of November 16, 2018). President Donald J. Trump and his National Security Advisor John Bolton have long held that Cuba, Venezuela and Nicaragua
OFAC Settles With Standard Chartered Bank Over Violations of U.S. Economic Sanctions
On April 9, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a $639,023,750 settlement with Standard Chartered Bank (SCB), a UK-based financial institution, over potential civil liability related to alleged violations of the now-repealed U.S. economic sanctions on Burma and Sudan and the continuing sanctions on Cuba, Iran and…
Additional Cuban Companies Sanctioned by United States
Early in his presidency, President Donald Trump undertook a review of U.S. policy toward Cuba and announced, via a presidential memorandum in June 2017, revisions to that policy to once again restrict certain travel and limit the sale of goods and technology that might benefit the Cuban military. (See Trump and Trade Update of June…
President Trump Comments on Trade in State of the Union Address
In a lengthy State of the Union address, President Trump covered many issues and highlighted his administration’s achievements over the past year in claiming a “new American moment.” On international trade matters, Trump broke no new ground in reiterating his administration’s position that it will promote only “free, fair and reciprocal trade.” In his opening…
President Trump Announces New Cuba Policy
After several months of internal review, the Trump administration on June 16 announced revisions to U.S. policy toward Cuba. The internal review, led by the president’s National Security Council, engaged in an interagency review that included input from the Departments of State, Commerce, Agriculture, Homeland Security, Transportation and the Treasury. Additionally, President Trump met with…
Congressional Republicans Urge President Trump Not to Reverse Course on Cuba
Groups of Senate and House Republicans have sent letters to President Donald Trump urging him not to reverse Obama administration policies that began to relax longstanding economic sanctions and open up the country for limited trade. Seven House Republicans wrote Trump stating, “Reversing course would incentivize Cuba to once again become dependent on countries like…