The Trump administration expanded sanctions on Cuba by targeting five entities linked to finance, logistics, mining and steel production, along with a member of the Castro family, in a move aimed at restricting revenue streams supporting the Cuban government.
Updated On – 24 June 2026, 11:19 AM
Washington: The Trump administration expanded sanctions against Cuba, targeting five entities tied to key sectors of the island’s economy and a member of the Castro family as part of what Washington described as a broader effort to choke off revenue flowing to the Cuban government.
Secretary of State Marco Rubio announced the measures, saying the sanctions were aimed at entities and individuals that “fund, facilitate, or benefit from the regime’s malign activities, both in Cuba and across our hemisphere.”
The sanctions target three entities linked to Grupo de Administración Empresarial S.A. (GAESA), the military-run conglomerate that Washington describes as the financial backbone of the Cuban government.
“GAESA continues to operate as the financial muscle behind the Cuban regime’s repressive security apparatus,” Rubio said.
The State Department said two of the sanctioned entities are financial institutions involved in moving money on behalf of the Cuban government, while another is a logistics company that supports operations across the island.
Among those designated is ALMACENES UNIVERSALES S.A. (AUSA), a GAESA subsidiary that provides storage, transport and port-related services. The State Department said the company controls container traffic at Cuba’s Mariel Special Development Zone, a major logistics hub that has attracted foreign investment.
Also sanctioned were RAFIN S.A. and BANCO FINANCIERO INTERNACIONAL S.A. (BFI), both of which operate in Cuba’s financial services sector. According to the State Department, RAFIN serves as a key financial management arm of GAESA, while BFI handles much of the banking activity involving foreign entities doing business with Cuba.
The administration also widened pressure on Cuba’s mining and metals industries.
The State Department designated GEOMINERA, S.A., a state-owned enterprise that manages Cuba’s non-nickel mineral assets and works with foreign investors, including Australian-based Antilles Gold. It also sanctioned EMPRESA SIDERURGICA JOSE MARTI, known as Antillana de Acero, Cuba’s largest raw steel producer.
In addition, Washington designated Annalie Lilliam Rueda Cardero, citing her status as an adult family member of Alejandro Castro Espín, the former head of Cuban intelligence services and son of former Cuban leader Raúl Castro. Alejandro Castro Espín was sanctioned earlier this month.
The State Department also warned that foreign companies and financial institutions dealing with sanctioned entities or operating in Cuba’s financial, mining, security, defence or energy sectors could face sanctions risks.
