US tightens sanctions against Cuba.

The US administration has imposed new restrictions on travel to Cuba, expanded the ban on certain financial transactions and introduced banking restrictions affecting Cuba’s private sector.

According to a statement issued by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), individuals subject to US jurisdiction are prohibited from holding or participating in professional meetings or conferences in Cuba.

Except for US-accredited undergraduate and graduate educational institutions, their students and full-time permanent employees engaged in certain educational activities, educational travel to Cuba must be conducted under the sponsorship of an organization subject to US jurisdiction. Almost all travelers are required to travel with a representative of the sponsoring organization.

Although “people-to-people” group travel, which was previously permitted for educational purposes, is no longer authorized, individuals who had already begun travel-related procedures, such as purchasing airline tickets, before September 30 will reportedly still be allowed to take part in such trips.

Meanwhile, direct or indirect financial transactions with entities included on the “Cuba Restricted List,” compiled by the US Department of State and containing organizations linked to the Cuban military and security forces, have been prohibited.

In addition, banks are no longer authorized to conduct “U-turn” transactions involving Cuba or Cuban nationals that originate and terminate outside the United States. Banks have been authorized to reject such transactions outright rather than block them.

Banks have also been prohibited from opening or maintaining bank accounts for Cuban nationals who operate as independent private-sector entrepreneurs.