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The hotel chain Meliá Hotels International and Spanish financial institutions could become the main targets of the new executive order signed by Donald Trump, according to an analysis by the U.S. - Cuba Trade and Economic Council.
The order, issued on May 1, 2026, expands sanctions against the Cuban regime under the International Emergency Economic Powers Act and blocks all assets linked to the regime within U.S. territory, including those of current and former officials, their associates, and adult family members.
The analysis describes the measure as "the political version of a storm cloud that spans the length and breadth of the Cuban archipelago, with small storm clouds extending to other countries, particularly those with ties to the Cuban government."
According to the document, the order is "designed to instill the greatest possible apprehension, confusion, fear, and uncertainty on a global scale" and, according to its authors, "achieved that objective."
The analysis identifies Spain as the country with the highest risk: “Prime Minister Pedro Sánchez is directly in the political crosshairs of Donald Trump.”
If the Department of the Treasury and the Department of State decide to implement the provisions, “Meliá Hotels International SA, based in Palma de Mallorca, along with Spanish financial institutions, are the most likely targets,” the report warns.
However, the entity clarifies that this would not necessarily be because those entities contradict the provisions of the order, “but rather due to the satisfaction Trump would gain from pressuring Prime Minister Sánchez.”
Political motivation is reinforced by the context of the G7 meeting in June 2026, organized by France, where Spain participates out of tradition despite not being a member. The analysis indicates that Trump is "anxious at the prospect of a confrontation with Prime Minister Sánchez" at that forum.
The pressure on Spanish hotel companies in Cuba is not new. Since Trump activated Title III of the Helms-Burton Act on May 2, 2019, Meliá and Iberostar have faced lawsuits in U.S. federal courts for operating on properties expropriated after the Cuban Revolution, with around 6,000 claims valued at nearly 8 billion euros.
In July 2025, Trump had already imposed direct sanctions on the Cuban tourism industry, adding the Iberostar Selection La Habana to the restricted list of the State Department. On January 20, 2025, the administration also updated the list of restricted entities in Cuba, affecting the Meliá Marina Varadero and the Iberostar Grand Packard.
Cuban activists, including the Sakharov Prize winner Guillermo Fariñas, have protested in front of Meliá hotels in the U.S., denouncing the complicity of these chains with the regime. In April 2026, a Spanish lawyer described hotel investments in Cuba as "fraud exploiting Cuban workers."
The analysis also warns about the historical weakness of the European Union in the face of these measures. In 2019, Brussels promised to hire legal representation in the U.S. to defend European companies under Title III, a threat that never materialized.
"That never happened," the document recalls, leading to the conclusion that Washington "has nothing to fear in terms of retaliation."
The business of Spanish hotels caught in the Cuban collapse is deteriorating alongside a severe energy crisis: the island is experiencing blackouts of up to 25 hours daily in more than 55% of its territory and a projected economic contraction of 7.2% in 2026, according to the Intelligence Unit of The Economist.
The new executive order adds to more than 240 sanctions imposed by the Trump administration against Cuba since January 2026, as part of a maximum pressure strategy that has also intercepted at least seven oil tankers, reducing the regime's oil imports by between 80% and 90%.
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