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The United States sanctioned Banco Financiero Internacional S.A. (BFI) and RAFIN S.A., two entities linked to GAESA that Washington identifies as key players in the movement and management of money for the Cuban regime.
According to statements from the Department of State and Secretary Marco Rubio, the designations were adopted under Executive Order 14404, signed by President Donald Trump, to sanction individuals and entities related to repression in Cuba and threats to national security and U.S. foreign policy.
The blow strikes directly at the financial system controlled by the military conglomerate, because BFI manages, according to the State Department, the vast majority of transactions with foreign entities operating inside and outside of Cuba.
The official report indicates that the Banco Financiero Internacional is a commercial banking institution that was absorbed by GAESA in 2016 and is now sanctioned for operating in the financial services sector of the Cuban economy.
RAFIN S.A. was also sanctioned for operating in that sector. Washington describes it as a key component of the financial management of the GAESA conglomerate, which Rubio pointed out as the "financial muscle" behind the repressive apparatus of the Cuban regime.
In his statement, Rubio stated that two of the designated entities are financial institutions linked to GAESA and involved in the movement of money on behalf of the regime, while another is a logistics company associated with the military conglomerate.
The third entity is Almacenes Universales S.A. (AUSA), a subsidiary of GAESA dedicated to logistics, storage, handling, and transportation services, including port activities. According to the State Department, AUSA controls container traffic in the Mariel Special Development Zone.
Rubio stated on X that the situation in Cuba "is deteriorating" while the "corrupt, brutal, and anti-American" regime prioritizes its total control over the freedom, opportunities, and basic welfare of the Cuban people.
The Secretary of State accused GAESA of serving as "the main vector" for the regime's elites to siphon off the scarce resources of the island and divert them towards repression, anti-American subversion, and espionage, instead of allocating them to schools, power plants, and basic needs.
Washington also included GeoMinera S.A. and the José Martí Steel Company, known as Antillana de Acero, in the sanctions for operating in the metals and mining sector of the Cuban economy.
The State Department stated that GeoMinera is a state-owned company under the jurisdiction of the Ministry of Energy and Mines, which utilizes foreign investments, including those from the Australian company Antilles Gold and others, to manage metallic mineral assets not related to nickel in Cuba.
The José Martí Steel Company was described as the largest producer of crude steel in Cuba and, according to the official record, it has recently undergone a modernization and expansion process in collaboration with Russian entities.
The sanctions also target Annalie Lilliam Rueda Cardero, identified by the State Department as an adult relative of Alejandro Castro Espín, former head of Cuban intelligence services and son of Raúl Castro. In his statement, Rubio referred to her as Castro Espín's wife.
As a result of the measures, all assets and interests of designated individuals and entities located in the United States or under the control of U.S. persons are blocked and must be reported to the Office of Foreign Assets Control of the Department of the Treasury.
The State Department also warned that foreign individuals, including financial institutions, conducting transactions with those sanctioned under Executive Order 14404 or operating in sectors such as energy, defense, metals and mining, financial services, or the security of the Cuban economy, may also be exposed to sanctions.
Rubio warned that anyone providing services to these sanctioned actors faces the risk of being sanctioned themselves, and he stated that foreign banks and other companies engaged in activities with those entities must immediately freeze such activities.
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