In January, Obama issued an executive order ending a policy that had allowed Cubans who set foot on US soil to remain in the United States, unlike those intercepted at sea who are routinely returned to the island.
"OFAC will implement the Treasury-specific changes via amendments to its Cuban Assets Control Regulations… OFAC expects to issue its regulatory amendments in the coming months. The announced changes do not take effect until the new regulations are issued," the statement noted.
The Treasury added that the US businesses already engaged with Cuba would be allowed to continue doing business after President Donald Trump changes the country’s policy.
"Any Cuba-related commercial engagement that includes direct transactions with entities related to the Cuban military, intelligence, or security services that may be implicated by the new Cuba policy will be permitted provided that those commercial engagements were i[already] n place," OFAC said in updated guidance on its website.
"The President instructed Treasury to issue regulations that will end individual people-to-people travel," the Treasury Department said in updated guidance on its website.
Trump’s policy changes may please the "hardline Cuban exiles" who supported Trump in winning Florida during the 2016 US Presidential Election, the Miami Herald reported on Friday.