How far has OFAC carried NSPM-5 into Cuba sanctions?
Timeline for NSPM-5
Supplied the policy basis for the amendment
Cuba Dispatch: OFAC closes Cuban firms' US accountsBackground
NSPM-5 is a US national security presidential memorandum on policy towards Cuba. Donald Trump reissued and amended the 2017 memorandum on 30 June 2025. It directs federal departments to adjust Cuba transaction and travel rules and to identify entities tied to Cuban military, intelligence and security services for restricted dealings.
The memorandum sets executive policy rather than operating as a sanctions regulation by itself. Agencies implement its directions through measures within their own legal powers. OFAC's September 2026 amendment to the Cuban Assets Control Regulations carried parts of NSPM-5 into financial rules, including limits on indirect transactions involving Cuba Restricted List entities. NSPM-5 concerns Cuba. It is separate from NSPM-2, the February 2025 memorandum setting a maximum-pressure policy towards Iran.
What is NSPM-5?
Is NSPM-5 the same as NSPM-2?
How did OFAC implement NSPM-5?
When was NSPM-5 reissued?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 October 2026. Editorial standards.