US Tightens Sanctions on Cuba

The United States tightened sanctions against Cuba on Tuesday, imposing strict new limits on financial transactions and citizen travel to the island.

Through its Office of Foreign Assets Control (OFAC), the Treasury Department prohibited indirect financial transactions linked to Cuban security agencies and Gaesa, the military’s commercial conglomerate.

The measures revoke “U-Turn” transaction exemptions that previously allowed US banks to process non-US dollar payments involving Cuba, while also terminating account privileges for independent Cuban entrepreneurs that had been introduced during Joe Biden’s presidency to support the private sector.

The updated Treasury regulations also restrict travel categories authorised under Barack Obama’s administration, placing new restrictions on US citizens.

American travellers must now obtain explicit authorisation for cultural exchange “people-to-people” trips, as well as business meetings and conferences on the island.

The move marks a further escalation in diplomatic tension following Donald Trump’s return to the presidency in January 2025.

Describing Cuba as an extraordinary threat to national security, the Trump administration has enforced a de facto oil embargo against the island nation of 9.4 million people since January, intensifying its ongoing economic and energy crisis.