U.S. farm groups want Congress to fix Cuba export rule dispute
About 30 U.S. farm interests have asked Congress to fix a recently implemented rulemaking by the Treasury Department’s Office of Foreign Assets Control that restricts the financial terms of cash sales for agricultural exports to Cuba.
Farm groups, such as the American Farm Bureau Federation, National Grain and Feed Association, and U.S. Dairy Export Council, and several carriers and shippers, including Crowley Liner Services, Maybank Shipping Co., and Miller Farm Exports, said OFAC’s rulemaking ignores the congressional intent of the 2000 Trade Sanctions Reform and Export Enhancement Act.
The groups want Congress to redefine OFAC’s rule, which took effect March 17. The groups maintain that the change threatens more than $250 million in sales under contract, as well as future sells worth hundreds of millions of dollars to U.S. farmers and exporters.