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U.S. Increases Pressure on Key Sectors of Cuban Economy

Thursday, September 3, 2026 by Daniel Colon

U.S. Increases Pressure on Key Sectors of Cuban Economy
Fidel Ernesto Castro Calis and Banco Exterior de Cuba - Image of © Facebook

On Thursday, the United States government unveiled a fresh series of sanctions targeting Cuba, impacting five state-run entities and a grandson of Raúl Castro. This move was a coordinated effort between the State Department and the Office of Foreign Assets Control (OFAC) within the Treasury Department.

Secretary of State Marco Rubio issued the statement designating these six targets under Executive Order 14404, which allows for broad sanctions against individuals and institutions linked to the Cuban regime in strategic sectors such as energy, mining, and financial services.

Among those targeted is Fidel Ernesto Castro Calis, born on May 16, 1995, the grandson of Raúl Castro and son of Alejandro Castro Espín, who had already been sanctioned in June alongside another of his sons, Raúl Alejandro Castro Calis.

The sanctions also blocked the Banco Exterior de Cuba, a state financial institution established in 2000 and located in Havana's Plaza de la Revolución.

The four other entities are part of the energy and mining sectors: Comercial CUPET S.A., the wholesale commercial arm of the Unión Cuba-Petróleo; ABAPET (Empresa Importadora de Abastecimiento para el Petróleo), also linked to CUPET; NICAROTEC (Empresa de Servicios Comandante René Ramos Latour), based in Mayarí, Holguín, providing mining support services; and CEXNI (Empresa Importadora y Abastecedora del Níquel), located in Moa, Holguín.

Rubio characterized the Cuban regime as "a profound and multifaceted threat to U.S. national security and hemispheric stability," noting that "while the Cuban people suffer, the Castro family and their accomplices in the oppressive Ministry of the Interior continue to maintain their total grip on the island's economy, hoarding resources for the benefit of a small regime elite."

The Secretary of State also emphasized that these designations "reflect President Trump's unwavering vision of a free Cuba, where the regime's illicit financial networks, repressive apparatus, and Castro-era power structures are dismantled."

This marks the latest in a series of pressure rounds from Washington against Havana throughout 2026. In June, sanctions were imposed on Miguel Díaz-Canel, his wife Lis Cuesta, and Alejandro Castro Espín, along with the freezing of the business conglomerate GAESA, the MININT, and the Revolutionary Armed Forces.

In August, eight Cuban state enterprises related to nickel, steel, and tourism were added to the specially designated nationals list, and five entities in the arms sector faced similar actions weeks earlier.

Since January 2026, the Trump administration has initiated over two dozen actions against Cuba, impacting around 40 entities and at least 38 individuals.

Alongside these designations, OFAC issued the Cuba General License 4A, which authorizes transactions for third-country diplomatic and consular missions on the island—a more limited measure that does not alter the overall pressure framework.

The grip on the Castro family tightens with each new round: after sanctioning Alejandro Castro Espín and his son Raúl Alejandro in June, Washington now targets another of his sons, Fidel Ernesto, completing a blockade that spans three generations of the dynasty that has ruled Cuba for more than six decades.

Frequently Asked Questions about U.S. Sanctions on Cuba

What sectors are affected by the new U.S. sanctions on Cuba?

The new sanctions target key sectors such as energy, mining, and financial services, affecting several state-run entities in Cuba.

Who is Fidel Ernesto Castro Calis?

Fidel Ernesto Castro Calis is the grandson of Raúl Castro and the son of Alejandro Castro Espín. He is among those targeted in the latest U.S. sanctions.

How has the U.S. increased pressure on the Cuban regime in 2026?

Throughout 2026, the U.S. has increased pressure through multiple sanction rounds targeting individuals and entities connected to the Cuban regime, including those in the energy, mining, and arms sectors.

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