United States imposes new sanctions on Cuban firms tied to GAESA

U.S. Secretary of State Marco Rubio announced on 23 June 2026 a new round of sanctions targeting five Cuban entities. Three of the designations – Almacenes Universales S.A., Rafin S.A. and Banco Financiero Internacional S.A. – are linked to the military‑run conglomerate GAESA, which Washington says controls about 40 % of Cuba’s GDP. The other two sanctions hit the state mining firm GeoMinera S.A. and the steel producer Empresa Siderúrgica José Martí, both accused of generating revenue for the regime by exploiting mineral and metal reserves. The measures also add Annalie Lilliam Rueda Cardero, the wife of Alejandro Castro Espín and relative of former president Raúl Castro, to the sanctions list.

The actions are taken under Executive Order 14404, signed by President Donald Trump in May 2026, and include warnings that any foreign banks or companies providing services to the listed entities risk secondary U.S. sanctions. Cuban Foreign Minister Bruno Rodríguez condemned the move as “a crime” and “despicable aggression,” while Vice‑Foreign Minister Josefina Vidal said Cuba remains willing to discuss issues with the United States provided its sovereignty is respected. Analysts warn the sanctions could further strain Cuba’s already severe economic crisis by disrupting logistics, mining output and foreign investment flows.