US sanctions five Cuban firms and a Castro relative

The United States imposed new sanctions on five Cuban state-owned companies and a member of the Castro family on Tuesday, June 23, 2026, in a move analysts say will further isolate the island's economy and deter foreign investment. The measures target key sectors including finance, logistics, and mining.

Secretary of State Marco Rubio announced the sanctions under an executive order signed by President Donald Trump in May. The designated entities include three linked to Grupo de Administración Empresarial S.A. (GAESA), a military-controlled conglomerate estimated to command nearly 40 percent of Cuba's economy. These are Banco Financiero Internacional, a commercial bank handling most international trade; Rafin S.A., an opaque financial institution within GAESA; and Almacenes Universales S.A., a logistics company that controls container traffic at the Port of Mariel Special Development Zone.

The sanctions also extend to two companies in Cuba's metals and mining industry: state-owned GeoMinera S.A. and Empresa Siderúrgica Jose Martí, also known as Antillana de Acero, the country's largest raw steel producer. The individual sanctioned is Annalie Lilliam Rueda Cardero, the wife of...