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Trump Tightens Sanctions Against Cuba
(MENAFN) U.S. President Donald Trump signed an executive order Friday dramatically widening the scope of American sanctions against Cuba, extending punitive measures across key economic sectors and threatening foreign financial institutions that do business with Havana.
The order freezes all property and financial interests held within the United States — or under the control of U.S. persons — belonging to any individual or entity operating in Cuba's energy, defense, metals and mining, financial services, or security industries. The Treasury Secretary retains authority to designate additional sectors subject to the measures, in coordination with the Secretary of State.
The directive further extends its reach to anyone who directly or indirectly owns or controls entities already blacklisted under the order, broadening Washington's ability to pursue interconnected networks of sanctioned parties.
Among the most consequential provisions is a secondary sanctions mechanism designed to choke off Cuba's access to international finance. Foreign banks and financial institutions that process or facilitate significant transactions on behalf of individuals or entities linked to the Cuban government now face the prospect of U.S. penalties — a move that could force global lenders to choose between doing business with Cuba or maintaining access to American markets.
Trump delegated implementation authority to both the Secretary of State and the Secretary of the Treasury, empowering them to take all steps necessary to enforce the order's provisions.
Friday's action adds another layer to a sanctions architecture that has defined U.S.-Cuba relations for more than six decades. Washington first imposed a comprehensive trade embargo against Havana in February 1962 — a policy that successive administrations have alternately hardened or modestly relaxed, but never dismantled.
The order freezes all property and financial interests held within the United States — or under the control of U.S. persons — belonging to any individual or entity operating in Cuba's energy, defense, metals and mining, financial services, or security industries. The Treasury Secretary retains authority to designate additional sectors subject to the measures, in coordination with the Secretary of State.
The directive further extends its reach to anyone who directly or indirectly owns or controls entities already blacklisted under the order, broadening Washington's ability to pursue interconnected networks of sanctioned parties.
Among the most consequential provisions is a secondary sanctions mechanism designed to choke off Cuba's access to international finance. Foreign banks and financial institutions that process or facilitate significant transactions on behalf of individuals or entities linked to the Cuban government now face the prospect of U.S. penalties — a move that could force global lenders to choose between doing business with Cuba or maintaining access to American markets.
Trump delegated implementation authority to both the Secretary of State and the Secretary of the Treasury, empowering them to take all steps necessary to enforce the order's provisions.
Friday's action adds another layer to a sanctions architecture that has defined U.S.-Cuba relations for more than six decades. Washington first imposed a comprehensive trade embargo against Havana in February 1962 — a policy that successive administrations have alternately hardened or modestly relaxed, but never dismantled.
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