The Department of the Treasury's Office of Foreign Assets Control (OFAC) published regulations on September 29, 2026, to implement Executive Order 14404. The rules take effect upon publication in the Federal Register on September 30, 2026.

OFAC is amending the Cuban Assets Control Regulations. The agency is eliminating over 100 subparts from its chapter of the Code of Federal Regulations.

OFAC is issuing five new Cuba-related Frequently Asked Questions, numbered 1271 through 1275. The agency is also issuing 29 amended Cuba-related Frequently Asked Questions.

In a separate regulatory action, OFAC is amending the Iranian Transactions and Sanctions Regulations to incorporate Executive Order 13902. That executive order was issued on January 10, 2020.

Timeline

COMERCIAL CUPET S.A. a state-owned enterprise designated under E.O. 14404, was established on September 18, 1991, and operates in the wholesale fuel distribution sector in Cuba. BANCO EXTERIOR DE CUBA, designated under E.O. 14404, was established on February 29, 2000, and operates as a state-owned financial institution in Cuba. Executive Order 13902 was issued on January 10, 2020.

Executive Order 14404 is part of the national emergency declared in Executive Order 14380 (January 29, 2026), which addresses threats to the U.S. from the Cuban government. Executive Order 14404, signed on May 1, 2026, expands sanctions on Cuba by targeting foreign entities and financial institutions, building on prior measures like Executive Order 13902 (2020), which focused on Cuba's energy and defense sectors. Executive Order 14404 imposes sanctions on those responsible for repression in Cuba and threats to U.S. national security.

OFAC issued General License 1 on May 7, 2026, to authorize transactions prohibited by E.O. 14404 if they are authorized under the Cuban Assets Control Regulations (CACR), establishing a precedent for aligning new sanctions with existing frameworks. The Department of the Treasury's Office of Foreign Assets Control (OFAC) is publishing regulations to implement Executive Order 14404.

What's New

Further details show that OFAC eliminated over 100 subparts from its chapter of the Code of Federal Regulations (CFR) as part of implementing E.O. 14404, streamlining regulatory language to align with the new sanctions framework. The 2020 Executive Order 13902, which targeted Cuba's energy and defense sectors, serves as a precedent for E.O. 14404, which now includes broader sanctions on foreign persons and financial institutions supporting Cuba's regime. E.O. 14404 expands U.S. sanctions to non-Cuban foreign persons and foreign financial institutions engaging in significant transactions with entities blocked under the order, marking a broader scope than prior Cuba sanctions.

How Sources Differ

Sources differ on the specific details regarding the executive order. According to ofac.treasury.gov, Executive Order 14404, signed on May 1, 2026, expands sanctions on Cuba by targeting foreign entities and financial institutions, building on prior measures like Executive Order 13902 (2020), which focused on Cuba's energy and defense sectors. Executive Order 14404 states that the order imposes sanctions on those responsible for repression in Cuba and threats to U.S. national security.

Sources present different levels of detail regarding federal regulations. According to ofac.treasury.gov, OFAC eliminated over 100 subparts from its chapter of the Code of Federal Regulations (CFR) as part of implementing E.O. 14404, streamlining regulatory language to align with the new sanctions framework. The Office of Foreign Assets Control Publication of Regulatory Amendments; Publicati states that OFAC is eliminating over 100 subparts from its chapter of the Code of Federal Regulations.

Why It Matters

Executive Order 14404 expands U.S. sanctions to non-Cuban foreign persons and foreign financial institutions engaging in significant transactions with entities blocked under the order, marking a broader scope than prior Cuba sanctions. This expansion builds on Executive Order 13902, which focused on Cuba's energy and defense sectors. The new regulations target those responsible for repression in Cuba and threats to U.S. national security.

The implementation of these regulations involves significant regulatory changes, including the elimination of over 100 subparts from the Code of Federal Regulations. OFAC issued General License 1 to authorize certain transactions, aligning the new sanctions with existing frameworks. This action affects state-owned enterprises such as COMERCIAL CUPET S.A. and financial institutions like BANCO EXTERIOR DE CUBA.