Cuban Assets Control Regulations

The Cuban Assets Control Regulations (CACR), 31 CFR 515, are a set of federal regulations that serve as the primary enforcement mechanism of the United States embargo against Cuba. They impose restrictions on economic activity between the United States and Cuba, deriving legislative authority from the Trading with the Enemy Act of 1917. The regulations were enacted by U.S. President John F. Kennedy on July 8, 1963, following the prior year's Cuban Missile Crisis. The U.S. government has expanded these regulations in the 21st century due to evolving geopolitical issues between the two nations. Within the Treasury Department, the Office of Foreign Assets Control (OFAC) administers and enforces these economic sanctions. The OFAC has the authority to regulate and amend the CACR to be consistent with the policies and goals of the executive administration.