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Trump Broadens Cuba Sanctions to Target Foreign Banks and Firms

The measure projects U.S. sanctions power beyond its borders by threatening non‑U.S. banks and companies that deal with Havana.

Overview

  • President Trump signed the executive order Friday, expanding sanctions to Cuban officials, security organs, and major sectors and allowing penalties on non‑U.S. people and banks that transact with designated targets, with specific names not yet released.
  • Cuba denounced the action as illegal “collective punishment” during May Day marches in Havana, and later Trump said the U.S. could “take over” Cuba “almost immediately,” a remark that sharpened tensions without announcing military steps.
  • Experts said the order signals third countries to back off, since foreign banks that move money for Cuban government entities could face loss of access to the U.S. financial system, mirroring the secondary‑sanctions approach long used against Iran.
  • The White House justified the expansion by alleging Cuba hosts foreign adversary facilities near U.S. shores, maintains ties with Iran, and provides safe haven for groups such as Hezbollah, while persecuting political opponents at home.
  • The move follows U.S. steps earlier this year to cut off Venezuelan oil to Cuba, a squeeze that worsened fuel shortages and triggered nationwide blackouts and flight cancellations, deepening daily strains for residents.