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Financial Services Law Insights and Observations

OFAC sanctions Cuban Ministry of the Interior for human rights abuse

Financial Crimes OFAC Department of Treasury Cuba Sanctions Of Interest to Non-US Persons OFAC Designations

Financial Crimes

On January 15, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions against the Cuban Ministry of Interior and the Minister of Interior for his alleged connection to serious human rights abuses. According to OFAC, the sanctions are taken pursuant to Executive Order 13818, which implements the Global Magnitsky Human Rights Accountability Act and “targets perpetrators of serious human rights abuse and corruption.” As a result of the sanctions, all of the individual’s property and interests in property that are blocked pursuant to the Cuban Assets Control Regulations continue to be blocked, as well as any of the individual’s property and interests in property in the United States or possessed or controlled by U.S. persons. Additionally, OFAC regulations prohibit U.S. persons from participating in transactions with the individual unless exempt or otherwise authorized by an OFAC general or specific license.

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