State Department Imposes Targeted Financial Sanctions on Ten Cuban State Enterprises

WASHINGTON, DC — U.S. Secretary of State Marco Rubio issued a formal diplomatic determination Thursday afternoon, adding ten commercial and financial enterprises controlled by the Cuban military and intelligence apparatus to the Cuba Restricted List under the Cuban Liberty and Democratic Solidarity (Libertad) Act of 1996.

Targeted Sanctions and Financial Isolation

The designated entities include commercial tourism holding companies, import-export intermediaries, and maritime logistics operators managed by the Business Administration Group (GAESA), the commercial arm of Cuba’s Revolutionary Armed Forces. The sanctions prohibit all direct financial transactions by persons subject to U.S. jurisdiction with the listed companies, aiming to prevent the regime from siphoning foreign currency transactions away from private independent Cuban entrepreneurs.

Secretary Rubio stated that U.S. foreign policy will maintain relentless pressure on state military monopolies that suppress democratic freedoms while supporting private civil society development.

Western Hemisphere Policy and Diplomatic Reactions

Members of the House Foreign Affairs Committee praised the sanctions for closing loopholes that allowed state enterprises to capture foreign tourist revenues.

Human rights organizations noted that targeted financial measures must be paired with expanded channels for direct humanitarian and communications support for ordinary Cuban citizens.

Office of Foreign Assets Control (OFAC) Regulatory Update

The Treasury Department’s Office of Foreign Assets Control will publish formal regulatory updates implementing the transaction bans on August 24, 2026.