US limits amount of money that Americans can send to Cuba
WASHINGTON — The Trump administration is moving to further toughen sanctions against Cuba by reducing the amount of money that Cuban-Americans can send to family members on the island.
Changes announced Friday by the Treasury Department limit remittances to $1,000 per person per quarter. The new rules also no longer allow transfers of money to nonfamily members.
New rules published by Treasury tighten the rules on financial transactions between U.S. institutions and the island.
The Obama administration removed limits on family remittances in 2009 as it took steps to restore diplomatic relations with Cuba. But President Donald Trump changed course to reinstate the restrictions and other sanctions.