"The exercise of certain authorities under the Trading With the Enemy Act is scheduled to expire on September 14, 2020. I hereby determine that the continuation of the exercise of those authorities with respect to Cuba for 1 year is in the national interest of the United States," according to a US presidential determination issued by the White House.
"Therefore, consistent with the authority vested in me by section 101(b) of Public Law 95-223, I continue for 1 year, until September 14, 2021, the exercise of those authorities with respect to Cuba, as implemented by the Cuban Assets Control Regulations, 31 C.F.R. Part 515," according to the document.
The United States severed diplomatic ties with Cuba in 1961 in response to the nationalization of American property on the island. After that, Washington announced the imposition of a trade and economic embargo against the country. Since 1992, Cuba has annually submitted to the UN General Assembly a draft resolution on the need to lift the US embargo. Most members of the world organization invariably vote in support of the document.