U.S. Sanctions Target Five Cuban Companies and a Castro Family Member Amid Economic Reforms

On 23 June 2026, U.S. Secretary of State Marco Rubio announced new sanctions on five Cuban entities and on Annalie Lilliam Rueda Cardero, the wife of Alejandro Castro Espín. The designated firms include Almacenes Universales (logistics arm of the GAESA conglomerate), Geominera (state mining firm), Rafin and Banco Financiero Internacional (financial institutions), and the steel producer Empresa Siderúrgica José Martí (Antillana de Acero). The sanctions block any U.S. transactions with the companies, freeze assets under U.S. jurisdiction and aim to cut the revenue streams that finance the Cuban regime’s security apparatus.

Rubio said, “Today I am designating five Cuban entities that generate revenue for the Cuban regime, including three linked to the Grupo de Administración de Empresas SA (GAESA) and a member of the Castro family, pursuant to Executive Order 14404.” The measures follow a series of U.S. actions, including an oil blockade, intended to pressure Havana.

Simultaneously, Cuba’s National Assembly approved a sweeping set of economic reforms designed to modernize the socialist economy, increase production and protect vulnerable groups. President Miguel Díaz‑Canel rejected the U.S. blockade, calling for the island to trade freely and secure fuel and medicines. The reforms cover 23 sectors and propose measures such as a minimum wage linked to inflation and greater autonomy for state‑owned enterprises.