ABSTRACT

Financing U.S. Agricultural Exports to Cuba [June 24, 2016]   [open pdf - 130KB]

"In December 2014, President Obama announced a new policy approach toward Cuba that in part seeks to reduce the role of long-standing U.S. sanctions on commercial relations with Cuba while also promoting greater engagement and normal relations with the island nation. For U.S. agriculture, the most significant change to emerge from the altered U.S. policy stance toward Cuba has been a revised interpretation of the definition of 'payment of cash in advance' that conditions sales of agricultural commodities to Cuba under the Trade Sanctions Reform and Export Enhancement Act of 2000 (TSRA, Title IX of P.L. 106-387). In January 2015, the U.S. Department of the Treasury revised its interpretation of 'cash in advance' from one that limits such transactions to cash payment before the shipment to the current interpretation that cash payment is required before transfer of title. For additional information on U.S. policy toward Cuba and bilateral relations, see CRS [Congressional Research Service] Report R43926, Cuba: Issues for the 114th Congress, by Mark P. Sullivan."

Report Number:
CRS Insight, IN10514
Author:
Publisher:
Date:
2016-06-24
Copyright:
Public Domain
Retrieved From:
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html
Format:
pdf
Media Type:
application/pdf
URL:
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