New restrictions on financial transactions

The United States Department of the State published an updated list of restricted entities and subsections associated with Cuba, with which direct financial transactions are prohibited under the control regulations of Cuban assets (CACR).

The update includes new entities linked to the military and security apparatus of the Cuban regime, reinforcing the restrictions imposed by the US government.

The measure is part of the sanctions policy established in the presidential memorandum of National Security 5 (NSPM-5), which instructs the State Department to identify entities and subsections under control or action in the name of military, intelligence or intelligence services Cuban security.

As a result, the Office of Industry and Security (BIS) of the Department of Commerce indicated that it will deny, in most cases, the export or re -export applications of products destined for the entities included in the list.

Context of measure

From the implementation of the NSPM-5 in 2017the US administration has maintained restrictions on financial activity with Cuban state companies linked to the Armed Forces and the Interior Ministry.

However, in January 2025, the list of restricted entities was temporarily eliminated after the issuance of the National Security Memorandum 29 (NSM-29).

However, on January 20, 2025, the current president of the USA, Donald Trump, revoked said decision through an executive orderrestoring the list of restricted entities of Cuba under the guidelines of the NSPM-5.

New restrictions within the framework of the Helms-Burton Law

The restoration of the list of restricted entities of Cuba adds to the recent reactivation of Title III of the Helms-Burton Law by the US government.

This provision allows US citizens to sue at the Courts of the US to foreign companies that carry out businesses with properties in Cuba that were confiscated after the revolution.

The measure hardly hardens the economic siege against the Cuban regime, hindering foreign investment on the island and increasing pressure on the Cuban government to adopt political and economic reforms.

Pressure from the US Congress

Since the end of 2023, the senator Marco Rubio He was one of the main drivers of the update of the list of restricted entities of Cuba.

Rubio argued that the Biden administration It had to include more companies controlled by the Cuban regimeespecially those related to the financial and tourist sector, which continue to benefit the military and intelligence structures of the island.

The recent expansion of the list responds to these demands of the political sector that advocates a harder policy against the Cuban totalitarian regime, and charges more weight with the appointment of Rubio as Secretary of State for the Trump administration.

Impact on remittances and the Cuban financial sector

One of the entities recently included in the list is Orbit SAa company linked to remittance management in Cuba.

Its inclusion could significantly affect money from the United States to the island, since it prevents US companies from making transactions with it.

This adds to previous restrictions imposed on Fincimex and other entities related to the reception of remittances in Cuba, which further complicates the options of Cubans to receive money from family members abroad.

Affected entities

Among the main Cuban entities and subsets included in the updated list are:

– Ministries: Ministry of the Revolutionary Armed Forces (MINFAR) and Ministry of Interior (Minint).

– Corporations and business groups: Gaesa (SA Business Administration Group), Cimex, Gaviota and the Military Industry Union.

– Hotels: Gran Hotel Manzana Kempinski, Iberostar Grand Packard, Meliá Marina Varadero, and several tourist establishments in Havana, Varadero, Santiago de Cuba, Holguín and Los Cayos.

– Tourism and marine agencies: Crucero del Sol, Gaviota excursions, Marina Gaviota Varadero, among others.

– Security and telecommunications companies: SEPSA (Special Protection Services), Xetid (Defense Information Technology Company) and Datys.

– Financial entities: Banco Financiero Internacional S (BFI), Fincimex, Rafin SA, Orbit Sa

The inclusion of these entities in the list implies that direct financial transactions with them are prohibited and that any export or re -export of goods to these companies will be rejected by the US authorities.

Implications for the Cuban private sector

The State Department justified the measure stating that transactions with these entities disproportionately benefit the Cuban military and security forces, to the detriment of the Cuban people and the emerging private sector on the island.

The US administration argues that the policy seeks to prevent the income generated by these state companies being used for the maintenance of the Cuban government repressive apparatus.

Full list availability

The updated list of restricted entities of Cuba is available on the US Department of State Department.

For more information, the State Department has made the contact of the Cuban Affairs Coordinator’s office available to those interested: Robert HaasTelephone: 771-204-7384, email: haasrz@state.gov.

This update reinforces Washington’s pressure on the Cuban government, in a context of bilateral tensions and commercial restrictions that continue to impact the island’s economy.