Article Describes Effect of Payment of OFAC's New Payment of Cash In Advance Regulation
The business section of today's Washington Times contains an article describing the impact of OFAC's recent "clarification" of the term "payment by cash in advance" for sales of licensed agricultural products to Cuba. The article describes the plight of a Massachusetts company whose exports of eggs to Cuba were rising until the new regulation went into effect. Now, the company has no pending orders. The article also correctly notes that while the OFAC regulation makes it more difficult to sell licensed agricultural products to Cuba it does not necessarily prohibit U.S. exporters from engaging in transactions with Cuba.
The entire article can be viewed at the following link: