The Trump administration has imposed new sanctions on the powerful Cuban military and business conglomerate GAESA, along with other figures within Cuba’s communist leadership.
The US State Department stated that the aim of the measures is to deny Cuba’s military leadership and elites access to assets.
"These sanctions are part of the Trump Administration's comprehensive campaign to address the pressing national security threats posed by Cuba's communist regime and hold accountable the regime and those who provide it material or financial support," Secretary of State Marco Rubio said in a statement.
According to estimates by experts quoted in US media reports, GAESA controls at least 40% of the Cuban economy and key sectors such as tourism, financial services, retail, port logistics and imports.
In addition to GAESA, Washington also imposed sanctions on the congolomerate's executive president, Ania Guillermina Lastres Morera.
The measures also targeted the nickel company MNSA, a joint venture between the Cuban state and a Canadian mining group. The US accuses the company of exploiting Cuba’s raw materials for the benefit of the leadership.
The sanctions freeze assets in the US and prohibit US citizens from doing business with the entities concerned. Foreign banks and companies also face sanctions if they continue to work with the listed companies.
The new punitive measures are part of a significantly tougher Cuba policy by the Trump administration. Last week, Trump announced far-reaching sanctions against supporters of the Cuban government by executive order.
GAESA was established in the 1990s under former president Raúl Castro.
The most important companies within the conglomerate are the hotel company Gaviota and the trade and finance group Cimex. However, the portfolio also includes a shipping company, an airline, construction firms, car dealerships, property companies, banks and department stores. Through the International Finance Bank (BFI), GAESA also controls Cuba’s foreign exchange market.
