Rubio Hits Cuba Hard: New Sanctions Now Target Castro Kin and GAESA

US slaps new sanctions on Cuba

The US hit Cuban state companies Tuesday with new sanctions that analysts say are expected to spook foreign investors and deepen a severe economic crisis. US Secretary of State Marco Rubio said the sanctions target five Cuban entities, including three linked to Grupo de Administracion Empresarial S.A., a business conglomerate run by Cuba’s Revolutionary Armed Forces. Best known as GAESA , it is believed to command nearly 40 percent of Cuba's gross domestic product. As of early 2024, it held 14.

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, reported Xinhua. The U.S. government, led by its dishonest and mendacious Secretary of State (Marco Rubio), continues to take steps to tighten the noose around Cuba's economy, Cuban Foreign Minister Bruno Rodriguez said on X, referring to the sanctions Washington announced earlier in the day. These sanctions came as Cuba has proven to be stronger, more capable, and more effective than he expected in the face of the ruthless aggression and collective punishment against the people and their living conditions, said Rodriguez, adding that what this individual is pushing for from the world's greatest power is a crime. The sanctions target five Cuban state-owned entities, three of which are linked to the conglomerate Grupo de Administracion Empresarial S.A. and two are related to the mining and metallurgical sectors, according to a fact sheet published Tuesday by the U.S. Department of State.

Rubio sanctions Cuban entities despite country’s attempt to liberalize

Secretary of State Marco Rubio sanctioned five Cuban companies, despite Havana’s attempts to liberalize. Rubio leaned into the stick side of the carrot-and-stick approach to Cuba on Tuesday, dashing hopes from the Cuban government that a new move to modernize could spare it from further crushing sanctions. Three of the five companies were linked to []

US sanctions five more Cuban entities, including one member of the Castro family

Secretary of State Mark Rubio on Tuesday announced a new round of sanctions against entities that generate revenue for the Cuban regime. In his statement, Rubio explained that Trump signed executive orders that authorize “sweeping sanctions on Cuba, including against persons who support the Cuban regime’s security apparatus and those responsible for repression in Cuba []...Click to read more

U.S. levies sanctions on Cuban state companies that are key to island nation's economy

The U.S. hit Cuban state companies on Tuesday with new sanctions that analysts say are expected to spook foreign investors and deepen a severe economic crisis.