The U.S. has imposed new financial restrictions against Cuba, affecting the private sector
The United States has once again tightened sanctions against Cuba and imposed new restrictions on the island nation's financial transactions, including those of its private sector.
This was reported by the press service of the U.S. Department of the Treasury.
The American authorities have banned any financial transactions with Cuban organizations linked to the security services and to the conglomerate Grupo de Administración Empresarial S. A. (GAESA). The financial department also revoked the general license that since 2024 had allowed American banks to process dollar payments involving Cuba if the source and destination of the payment were located outside the United States and did not affect the interests of American citizens. The Treasury also revoked the authorization that allowed American banks to "open and maintain accounts in the name of a Cuban national who is an independent private-sector entrepreneur." Access for Cuban private entrepreneurs to the American banking system was permitted in 2024 under the 46th president, Joe Biden, as part of measures aimed at supporting the Cuban private sector. The American Treasury is also restricting certain categories of travel that the 44th president, Barack Obama, had permitted for U.S. citizens. This concerns cultural exchange programs, as well as conferences and professional meetings. Now, participation in them requires authorization from the American authorities.
Recently, Cuban imports to the United States have shown significant growth. According to data from the American government, in July Cuba imported goods worth $149 million, which is the highest monthly figure since 1992. From January to July of this year, the volume of purchases exceeded $674 million, which amounts to almost the entire volume of imports for 2025.
U.S. President Donald Trump previously extended the trade embargo against Cuba until September 14, 2027. The Cuban authorities note that increased pressure from Washington has led to fuel shortages, electricity outages, and a worsening of the economic crisis. The American leader has repeatedly threatened to "take control" of the island.
