US sanctions five Cuban entities, Castro family member in latest pressure campaign, Rubio says
The sanctions target Cuba’s military-linked economy and warn foreign firms they risk U.S. financial cutoff if they do business with the blacklisted entities.
- On Tuesday, the U.S. Treasury Department added Banco Financiero Internacional SA and GeoMinera SA to its sanctions blacklist, targeting Cuba's state-run banking and mining sectors to restrict regime funding.
- Secretary of State Marco Rubio said the entities generate "revenue for Cuba" through the "exploitation of the island's mineral and metal reserves," with firms operating under Grupo de Administración Empresarial SA , which commands nearly 40% of the economy.
- Michael Bustamante, a University of Miami professor, noted the designations signal to foreign investors that "for most of these companies, it's a bridge too far," as services to these entities risk exclusion from the U.S. financial system.
- Expanding the sanctions, the U.S. targeted Annalie Lilliam Rueda Cardero, the daughter-in-law of former President Raúl Castro and wife of General Alejandro Castro Espín, widening pressure against regime leadership.
- These measures continue a broader U.S. campaign that includes murder charges against Raúl Castro and blacklisting President Miguel Díaz-Canel, while the island of 10 million people faces severe economic strains amid a de facto oil blockade.
103 Articles
103 Articles
Rubio Hits Cuba's Military-Run Economic Empire
The U.S. sanctioned five Cuban state entities Tuesday, targeting the military-controlled conglomerate that controls nearly 40 percent of the island’s economy. Secretary of State Marco Rubio made the announcement, calling Cuba’s communist regime “corrupt, brutal and anti-American.” Three of the five entities are tied to Grupo de Administracion Empresarial S.A., better known as GAESA, the business empire operated by Cuba’s armed forces. As of earl…
US Sanctions Hit the Cuban Bank Foreign Investors Rely On
Economy Key Facts —The action. Washington blacklisted five Cuban state entities and one individual on June twenty-third. —The bank. Top of the list is the commercial bank that handles most foreign business in and out of Cuba. —The conglomerate. Three of the targets belong to the military-run group GAESA, said to control about forty percent […] The post US Sanctions Hit the Cuban Bank Foreign Investors Rely On appeared first on The Rio Times.
The United States imposed new sanctions on Cuban state companies that, according to analysts, could drive foreign investors away and deepen the already serious economic crisis in the Caribbean country. Secretary of State Marco Rubio said Tuesday that the sanctions are aimed at five Cuban entities, three of them linked to the Grupo de Administración Empresarial S.A., a business conglomerate operated by the Revolutionary Armed Forces of Cuba. Bett…
Cuba slams new US sanctions against state-run firms
Cuba on Tuesday denounced the latest sanctions imposed by the United States on five Cuban state-owned entities and a member of the extended family of former Cuban President Raul Castro, arguing the measures aim to further harm the economy.
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