U.S. Sanctions Cuba's GAESA and Moa Nickel S.A.

Secretary of State Marco Rubio announced U.S. sanctions on Thursday against Cuba's Grupo de Administración Empresarial S.A., known as GAESA, its executive president Ania Guillermina Lastres Morera, and Moa Nickel S.A., a nickel mining joint venture involving Canadian company Sherritt International and Cuba's state-owned General Nickel Company.

The designations, the first under an executive order signed by President Donald Trump on May 1, target entities linked to Cuba's military-controlled sectors, including mining, energy, and tourism. The order authorizes blocking assets of foreign individuals or companies operating in those areas or providing support to the Cuban government. U.S. persons are prohibited from transactions with the sanctioned parties, and their U.S.-held assets are frozen. Foreign financial institutions face risks for dealings with them.

Rubio described GAESA as a military-controlled conglomerate that manages significant portions of Cuba's economy. "GAESA and its subsidiaries run a large chunk of Cuba's economy," he said in a State Department statement. He noted public estimates placing GAESA's revenues at more than three times the state budget and its assets at...