Foreign companies and banks under pressure: Washington tightens punishment for ties with Cuba



Cuba's regime leadershipPhoto © ACN

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President Donald Trump signed a new executive order this Friday that targets foreign companies, banks, and individuals who maintain commercial or financial ties with the government of Havana, according to the text published by the White House.

The order, titled "Imposition of Sanctions on Those Responsible for Repression in Cuba and Threats to National Security and U.S. Foreign Policy," is based on the International Emergency Economic Powers Act (IEEPA) and expands the framework established by the Executive Order 14380 of January 29, 2026, which declared the Cuban government a "unusual and extraordinary" threat to U.S. national security.

The document states that the policies of the Cuban regime "continue to pose an unusual and extraordinary threat" and adds that "they are not only designed to harm the United States, but are also repugnant to the moral and political values of free and democratic societies."

The core of the new measure is the expansion of sanctions against foreign individuals operating in strategic sectors of the Cuban economy: energy, defense, metals and mining, financial services, and security.

Those who are controlled or directed by the Cuban government, those who have provided financial, material, or technological support, as well as leaders, senior executives, and board members of already blocked entities are also subject to sanctions.

The order goes even further by extending sanctions to adult family members of designated individuals, as well as those responsible or complicit in serious human rights abuses or corruption associated with the regime, including embezzlement of public assets, expropriation of private property, or bribery.

The Secretary of State and the Secretary of the Treasury will have joint authority to determine which foreign persons or entities are subject to the new restrictions, with immediate blocking of their assets in U.S. territory.

The order also suspends entry into the United States—whether as immigrants or non-immigrants—for foreigners who meet the criteria for sanctions, unless the Secretary of State determines that their entry is in the national interest.

A notable aspect is that the regulation explicitly states that prior notification to the designated individuals is not required, arguing that "the ability to transfer funds or assets instantly would render these measures ineffective" if they were notified in advance.

It also prohibits any transaction that "evades or attempts to evade" the restrictions, as well as any conspiracy to violate them.

This new order comes at a time when the maximum pressure campaign by Trump against Cuba has accumulated over 240 new sanctions since January 2026, leading to a severe energy crisis with power outages of up to 20 hours a day on the island.

The financial blockade becomes especially complex for international actors because the Cuban regime blocked the foreign currency accounts of foreign companies since late 2025, and in February 2026, it published Agreement 10216, which requires e-commerce platforms to channel revenues to Cuban banks, a measure that directly conflicts with the sanctions from the Office of Foreign Assets Control (OFAC).

After the elimination of tariffs based on IEEPA ordered by the Supreme Court in February, Trump maintained the national emergency and the legal framework for direct sanctions, which is precisely the mechanism that activates the order signed this Friday.

The White House has insisted that the Cuban regime is destined for failure, and the new order represents the most ambitious step taken so far to financially isolate Havana by severing its connections with the international economic system.

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CiberCuba Editorial Team

A team of journalists committed to reporting on Cuban current affairs and topics of global interest. At CiberCuba, we work to deliver truthful news and critical analysis.

CiberCuba Editorial Team

A team of journalists committed to reporting on Cuban current affairs and topics of global interest. At CiberCuba, we work to deliver truthful news and critical analysis.