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Trump Expands Cuba Sanctions, Targets Energy and Finance Sectors

US President Donald Trump signed an executive order expanding sanctions on the Cuban government. The order blocks property of those operating in energy, defense, metals, mining, and financial sectors. It also imposes secondary sanctions on foreign financial institutions dealing with sanctioned Cuban entities. The US has maintained sanctions against Cuba for over 60 years.

Key Points: Trump Expands Cuba Sanctions on Energy, Finance

  • Trump signs executive order expanding Cuba sanctions
  • Targets energy, defense, metals, mining, financial sectors
  • Imposes secondary sanctions on foreign financial institutions
  • Blocks property of those operating in sanctioned sectors
2 min read

US expands sanctions on Cuban government

US President Donald Trump signs executive order expanding sanctions on Cuban government, targeting energy, defense, and financial sectors.

"The order also seeks to limit Cuba's access to the global banking system - Xinhua news agency"

New York, May 2

US President Donald Trump signed an executive order expanding sanctions on the Cuban government.

Trump ordered that all property and interests in property that are in and coming within the United States, or are in or coming within the possession or control of US persons of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in, Xinhua news agency reported.

The "following persons" include those who operate in or have operated in the energy, defense and related materiel, metals and mining, financial services, or security sector of the Cuban economy, or any other sector of the Cuban economy, as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State.

It also includes those who own or control, directly or indirectly, any person whose property or interests in property are blocked pursuant to this order.

The order also seeks to limit Cuba's access to the global banking system, imposing secondary sanctions on people, entities and financial institutions that conduct financial transactions with those already sanctioned because of their ties to Cuba.

The order authorizes the US government to penalize foreign financial institutions that have conducted or facilitated any significant transaction for or on behalf of anyone with ties to the Cuban government.

Trump authorised the Secretary of State and the Secretary of the Treasury to take all actions necessary to implement and effectuate the order.

The United States has maintained sanctions against Cuba for over 60 years, with a comprehensive trade embargo officially instituted in February 1962. The sanctions have remained in place, and at times tightened or slightly eased ever since.

- IANS

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Reader Comments

S
Sara B
Another round of sanctions that hurt ordinary Cubans more than the government. The US has tried this for 60+ years - surely by now they'd realize it doesn't achieve regime change, just makes life miserable for people. Sad to see this continue.
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Vikram M
As an Indian, I sympathize with Cuban people. We have historically had good relations with Cuba - from Nehru's time to today. These unilateral sanctions go against international law and UN charter. The US trying to dictate to other nations how to trade... classic superpower behavior. 🙄
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Rohit P
I'm not a fan of the Cuban government's human rights record either, but these sanctions are counterproductive. They empower the very regime they target - Castro always uses the embargo as a propaganda tool. Diplomacy would work better than economic warfare. Have some chai and talk it out! ☕
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David E
I understand the intent behind targeting the Cuban regime's revenue streams, but expanding to secondary sanctions on banks globally is a step too far. This creates uncertainty in international trade. India must be careful our companies don't get caught in crossfire.

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