Trump Expands Cuba Sanctions to Foreign Firms, Targeting GAESA Before June 5 Deadline
Updated
Updated · Fox News · Jun 3
Trump Expands Cuba Sanctions to Foreign Firms, Targeting GAESA Before June 5 Deadline
3 articles · Updated · Fox News · Jun 3
Summary
May 1 authorities let the Trump administration threaten sanctions on foreign banks and companies that keep doing business with GAESA, Cuba’s military-linked conglomerate, after a June 5 wind-down deadline.
GAESA sits at the center of the move because analysts estimate it controls 40% to 70% of Cuba’s economy, spanning tourism, mining, retail, ports and financial services.
Supporters say the step closes a loophole that left U.S. firms restricted while Spanish hotel investors, Canadian mining interests and other foreign partners continued financing the Cuban state.
Critics say cutting that revenue could deepen shortages of food, medicine and fuel for ordinary Cubans, as the island already faces worsening blackouts, inflation and food insecurity.
The dispute reflects a broader sanctions debate: Washington says Cuba’s crisis stems from communist misrule, while opponents warn tougher pressure could trigger another migration wave.