The U.S. Department of Commerce and Treasury Department announced the regulatory amendments for the renewed diplomatic relations between the U.S. and Cuba.

The amendments are part of the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), and it includes changes President Barack Obama announced on Dec. 17. The Commerce and Treasury Departments' amendments will take into effect on Jan. 16.

The amendments are primarily about the travel plans for authorized individuals going to Cuba. As Latin Post reported, authorized people will be allowed to travel to Cuba if they qualify for one of 12 categories:

(1) family visits; (2) official business of the U.S. government, foreign governments, and certain intergovernmental organizations; (3) journalistic activity; (4) professional research and professional meetings; (5) educational activities; (6) religious activities; (7) public performances, clinics, workshops, athletic and other competitions, and exhibitions; (8) support for the Cuban people; (9) humanitarian projects; (10) activities of private foundations or research or educational institutes; (11) exportation, importation, or transmission of information or information materials; and (12) certain export transactions that may be considered for authorization under existing regulations and guidelines.

"Today's announcement takes us one step closer to replacing out of date policies that were not working and puts in place a policy that helps promote political and economic freedom for the Cuban people. These revised regulations, together with those issued by the Commerce Department, will implement the policies on easing sanctions related to travel, remittances, trade, and banking announced by the President on December 17," said Treasury Secretary Jack Lew.

"These changes will have a direct impact in further engaging and empowering the Cuban people, promoting positive change for Cuba's citizens," added Lew. "The amended regulations also will facilitate authorized business for U.S. exporters and enhance communications and commerce between Cuba and the United States. To the extent legally possible, the President has made clear that we want U.S. policy to ease the burdens on the Cuban citizens we seek to help."

According to Lew, Cuba has the potential to encounter economic growth with the increased commerce, communication, private business development and travel with the U.S.

Commerce Secretary Penny Pritzker said the revised regulations provide the "legal effect" to the policy changes Obama announced.

"Specifically, our regulations will change export policy and authorize the flow of certain goods and services to Cuba without a license, to spur private sector activity and encourage entrepreneurship in Cuba," said Pritzker. "These are smart changes in America's outdated policy that will help the Cuban people realize an improved standard of living, greater economic independence, and increased prosperity."

The Treasury's latest regulations can be located in 31 Code of Federal Regulations (CFR), part 515, while the Commerce Department's regulations can be found at 5 CFR parts 730-774.

The Treasury Department noted the "major elements" of the revised regulations include:

Travel and Carrier Services: Travel agents and airlines will be authorized to provide authorized travel and air carrier services without the need for a specific license from OFAC.

Insurance: U.S. insurers will be authorized to provide coverage for global health, life, or travel insurance policies for individuals ordinarily resident in a third country who travel to or within Cuba. Health, life, and travel insurance-related services will continue to be permitted for authorized U.S. travelers to Cuba.

Consumer Communications Devices: Commercial sales, as well as donations, of the export and reexport of consumer communications devices that enable the flow of information to from and among the Cuban people -- such as personal computers, mobile phones, televisions, memory devices, recording devices, and consumer software -- will be authorized under Commerce's Consumer Communication Devices (CCD) license exception instead of requiring licenses.

Remittances: The limits on generally licensed remittances to Cuban nationals other than certain prohibited Cuban Government and Cuban Communist Party officials will be increased from $500 to $2,000 per quarter.

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