Jeremy P. Lewin, the acting Under Secretary of State and a key advisor to Secretary Marco Rubio, demanded on Saturday that the Cuban regime return to the people the resources amassed by the military conglomerate GAESA over decades in secret foreign bank accounts.
In a statement shared on his X account, the Under Secretary for Foreign Assistance, Humanitarian Affairs, and Religious Freedom marked a new level of pressure from Washington on Havana.
"Cuba's communist system is a cruel deception. While the people endure hunger, poverty, and oppression, the regime's corrupt elites have funneled the country's resources into a hidden network of overseas bank accounts for their personal gain. Enough is enough!" Lewin declared, emphasizing the political demand of the Trump administration: "The regime must return these resources to the Cuban people."
Lewin highlighted that Rubio's new sanctions against GAESA, announced on May 7 under Executive Order 14404 signed by Trump on May 1, are the first to explicitly target the conglomerate's illicit overseas funds and the foreign financial entities that hold them "anywhere in the world."
The scale of what Washington is demanding is enormous. According to the executive order, GAESA holds between 18 and 20 billion dollars in foreign assets, and its revenues "likely exceed the Cuban State's budget by more than threefold."
Internal documents leaked in August 2025 revealed 14.467 billion dollars in international bank deposits and profits of 2.1 billion from revenues of 5.563 billion, a margin of 38%.
Rubio himself described the conglomerate as "a private enterprise with more money than the government itself" that does not allocate resources to the population.
GAESA controls between 40% and 70% of Cuba's formal economy—hotels, gas stations, supermarkets, exchange houses, the island's sole internet provider, and the International Financial Bank—and operates with total opacity: in 2024, the state comptroller was dismissed after 14 years for publicly admitting no access to its finances.
Lewin's demand has precedents in political transition processes. After Gaddafi's fall in 2011, the UN Security Council froze over 34 billion dollars in Libyan regime assets.
In Romania, following Ceaușescu's fall in December 1989, the State regained control of the regime's assets, albeit incompletely.
The Stolen Asset Recovery Initiative (StAR) of the World Bank and UNODC states that the most successful processes combine forensic audits, international cooperation, rapid freezing, and legal reforms.
What differentiates the Cuban case is that the U.S. applies this pressure on a regime still in power, not during a post-fall transition, making Lewin's statement both a political warning and a technical roadmap for asset recovery.
Pressure is mounting on multiple fronts simultaneously: shipping companies Hapag-Lloyd and CMA CGM halted bookings to Cuba following the sanctions; the CIA director met in Havana with high-ranking Intelligence officials of the regime; and the Justice Department announced a federal indictment against Raúl Castro for the 1996 shootdown of Brothers to the Rescue aircraft.
Foreign companies have until June 5, 2026, to sever their operations with GAESA or face secondary sanctions, an ultimatum that turns Lewin's demand into a countdown with tangible consequences for the regime's financial network.
FAQs on U.S. Pressure and GAESA's Assets
What is GAESA and why is it significant?
GAESA is a Cuban military conglomerate that controls a significant portion of the country's economy, including sectors like hospitality, fuel, and telecommunications. It is significant due to its extensive financial resources and influence within the Cuban economy.
Why is the U.S. targeting GAESA's overseas assets?
The U.S. is targeting GAESA's overseas assets to pressure the Cuban regime by cutting off funds that are allegedly being used for the benefit of regime elites rather than the Cuban people. This is part of a broader strategy to hold the regime accountable for its economic practices.
What are the potential consequences for foreign companies operating with GAESA?
Foreign companies have been given a deadline to cease operations with GAESA or face secondary sanctions. This could lead to significant financial and operational consequences for those companies if they fail to comply with the U.S. ultimatum.