The new measure is part of the ongoing actions taken by the Donald Trump administration against Cuba.
As reported by OFAC, the amendment will restrict any transaction with entities on the so-called Cuba Restricted List, a State Department list that includes more than 200 Cuban entities and sub-entities prohibited by the US government, including those which process and distribute remittances on the island, such as Fincimex, AIS, CIMEX, and others.
The final rule will be officially published in the Federal Register on October 27. The Donald Trump administration had previously limited the possible amount of shipments to only $1,000 per quarter (September 2019). Western Union suspended financial transfers to Cuba from anywhere globally except the United States (February 2020).
The current US administration noted that the new measure is intended to restrict access by such entities and sub-entities to funds obtained in connection with remittance-related activities, including in their role as intermediaries or their receipt of fees or commissions for processing remittance transactions. (TELESUR)