US tightens sanctions against Cuba

The United States has again tightened sanctions against Cuba and introduced new restrictions on the island nation’s financial transactions, including those involving its private sector, the Treasury said.

The US banned all financial transactions with Cuban organizations linked to the law enforcement agencies and conglomerate Grupo de Administracion Empresarial S. A. (GAESA).

The financial authority revoked the general license, which since 2024 had allowed US banks to process dollar·denominated payments involving Cuba provided that the source and destination of the payment were outside the United States and did not affect the interests of US citizens.

The Treasury also revoked the authorization that allowed US banks to open and maintain accounts in the name of Cuban independent private entrepreneurs. Cuban private entrepreneurs gained access to the US banking system in 2024 under President Joe Biden as part of measures aimed at supporting the Cuban private sector.

The Treasury also introduced the need to ask for permission for trips connected to cultural exchange programs, as well as conferences and meetings of specialists permitted for US citizens by President Barack Obama.