The United States Treasury Department escalated its sanctions against Cuba, placing additional restrictions on Thursday by adding two Cuban state enterprises involved in the metals sector and three officials from the Cuban Institute of Friendship with the Peoples (ICAP) to its list of Specially Designated Nationals (SDN). This move was part of a fresh wave of designations announced by the Office of Foreign Assets Control (OFAC).
The sanctioned entities include ACINOX Comercial S.A., a state-owned steel industry company established in 1990 focusing on the production of basic iron and steel, and ACOREC S.A. (Agency for Commercial Representations Contracts), a state human resources agency founded in October 1991, both headquartered in Havana.
ACINOX Comercial's designation intensifies the pressure on Cuba's metallurgical sector, one of the specific targets of Executive Order 14404 signed by Trump on May 1, 2026. This order expanded sanctions under the International Emergency Economic Powers Act (IEEPA) to cover the metals and mining, energy, defense, financial services, and security sectors.
Individuals TargetedAmong individuals, OFAC designated Fernando González Llort, who has been the president of ICAP since 2017 and is one of the former Cuban spies known as the "Cuban Five," released by the United States in 2014 during the Obama-era diplomatic thaw.
González Llort's designation followed public congratulations from Cuban President Miguel Díaz-Canel on his birthday, August 19, adding symbolic weight to the action.
Also included in the SDN list are Leima Martínez Freire, born in Guanabacoa, and Noemi Ramona Rabaza Fernández, from Bayamo, Granma, both associated with ICAP according to OFAC documentation.
ICAP itself was sanctioned as an institution on June 4, 2026, accused of supporting Cuban intelligence and counterintelligence activities. At that time, the organization condemned the move as a "political hostility act" and demanded its removal from the list.
Ongoing Pressure CampaignThis latest action is part of a continued strategy of maximum pressure. In June, Washington sanctioned Moa Nickel S.A. and Minera La Victoria S.A. — just 15 days after Cuba granted the latter a 20-year gold and copper concession — and on August 6, it imposed sanctions on five entities and eight individuals connected to Cuban military cooperation.
OFAC has cautioned that the risk of sanctions applies to any transactions with entities where GAESA, the MININT, or the Cuban Armed Forces have a direct or indirect stake of 50% or more, raising concerns among foreign businesses operating on the island.
The same update on August 20 also included issuing General License 131I related to Russia — concerning transactions tied to Lukoil International GmbH — and amendments to several associated FAQs, demonstrating the global reach of Thursday's designations.
Understanding the Impact of U.S. Sanctions on Cuba's Metal Sector
What is the significance of ACINOX Comercial S.A. being sanctioned?
ACINOX Comercial S.A. is crucial to Cuba's steel industry, and its sanctioning intensifies economic pressure on the country's metallurgical sector, aligning with broader U.S. strategies to target critical industries in Cuba.
Who is Fernando González Llort and why is his designation significant?
Fernando González Llort is the president of ICAP and a former Cuban spy, known as one of the "Cuban Five." His designation by OFAC is symbolically significant, especially following public recognition from Cuban leadership, highlighting ongoing tensions between the U.S. and Cuba.
How do these sanctions affect foreign businesses operating in Cuba?
Foreign companies must be vigilant about transactions involving entities where Cuban military or state interests are significant. OFAC's stance means even indirect involvement could risk falling under U.S. sanctions, complicating international business operations in Cuba.