US hits Cuba with new sanctions as island’s crises multiply
The action targets Cuba’s financial and energy sectors and warns foreign firms of secondary sanctions if they keep doing business with the listed parties.
- On Thursday, the United States imposed sanctions on Fidel Ernesto Castro, 31, grandson of former Cuban President Raúl Castro, and five state-run entities including Banco Exterior de Cuba across banking, energy, and mining sectors.
- Washington's latest measures build on a broader blockade on Cuban oil access since early this year, which has exacerbated an already weak power grid, causing repeated nationwide blackouts and limiting healthcare access, fueling U.N. warnings of a humanitarian crisis.
- Besides Banco Exterior de Cuba, Washington sanctioned four companies—Comercial CUPET, Abapet, Cexni, and Nicarotec—linked to energy and mining, systematically restricting financial channels for state-run industries supporting Cuban leadership.
- "These designations reflect President Trump's unwavering vision for a free Cuba," Secretary of State Marco Rubio said, as the administration penalizes top officials' families and state-run industries to exert pressure on the established power structure.
- Cuban authorities proposed opening key economic sectors to private industry in late July to survive sanctions, though these reforms face significant hurdles as new U.S. restrictions further constrain state entities necessary for economic transition.
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U.S. hits Cuba, Raul Castro's grandson with new sanctions as island's crises multiply
Photo taken on Aug. 25, 2026 shows a street in Havana, capital of Cuba. The Cuban government on Tuesday condemned the United States’ decision to extend for another year economic, commercial and financial blockade against Cuba until September 2027. (Photo by Jiang Biao/Xinhua via Getty Images)
In June, Cuba decided to liberalise its economy, and the United States imposed sanctions on Cuban companies.
The United States Government has imposed new sanctions on Cuba, increasing the pressure on its economy and deepening its energy and fuel crises.
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