New US sanctions add pressure on Cuban economic sectors

teleSUR, September 30, 2026 —

The Trump Administration imposed new sanctions against Cuba through regulations issued by the Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department, with provisions that primarily affect travel and financial transactions, two sectors that impact the island’s economic activity.

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Regarding travel, OFAC prohibited individuals under U.S. jurisdiction from traveling to Cuba to participate in or organize professional meetings, conferences, or similar events. The measure also restricts activities that were previously authorized under certain travel categories.

Group educational trips known as “people-to-people” trips, a program that allowed exchanges between citizens of both countries under licenses previously approved by U.S. authorities, have also been eliminated. Now, trips will only be conducted under the auspices of U.S.-affiliated entities.

The new regulations also strengthen restrictions on trade relations. According to the announced provisions, U.S. citizens will not be able to conduct financial transactions, directly or indirectly, with entities included on Cuba’s Restricted List.

Another measure eliminates the so-called U-Turn operations, a mechanism used to process certain transfers in which the origin and destination of the funds were outside of Cuba, although they involved the US financial system during the transaction.

The regulatory package also extends to Cuban entrepreneurs and economic actors who had managed to open bank accounts abroad. According to the new provisions, these accounts cannot be opened or remain operational unless the account holders obtain specific authorization issued by OFAC.

The Cuban government’s reaction was swift. Foreign Minister Bruno Rodríguez Parrilla rejected the new measures and denounced an intensification of Washington’s economic pressure on the island. On his social media profile, he stated: “The U.S. government has issued another wave of blockade measures against the Cuban people. Among them, they eliminate people-to-people exchanges and further restrict academic and research activities.”

These measures add to sanctions previously announced by Washington against Cuban institutions and entities, including CONSUMIMPORT, ACOREC SA, the Ministry of Construction, ACINOX Comercial, GEOMINSAL and METALCUBA, as well as directors of the Cuban Institute of Friendship with the Peoples (ICAP).

Meanwhile, Cuba continues to implement 176 economic impact measures, several of them aimed at attracting foreign currency and strengthening ties with banks and institutions based abroad, a process that could face greater difficulties due to the new financial restrictions.