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U.S. Designates Cuba’s CUPET Under Executive Order 14404

Washington says the move will block regime revenue by deterring foreign firms from transacting with Cuba’s energy sector.

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FILE - A man walks past a gas station that has run out of fuel, located near the U.S Embassy, pictured in the background, in Havana, Cuba, Feb. 7, 2026. (AP Photo/Ramon Espinosa, File)
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Overview

  • The State Department announced on June 11, 2026, that Unión Cuba‑Petróleo (CUPET) is designated under EO 14404 and added to the U.S. sanctions list.
  • The designation blocks any CUPET property in U.S. jurisdiction or controlled by U.S. persons and requires reporting to OFAC, with full enforcement in effect after the earlier wind‑down period ended on June 5.
  • U.S. officials say the measure targets alleged regime corruption and the ‘weaponization’ of energy by cutting Havana’s ability to monetize fuel for its security and elite networks.
  • The move raises immediate compliance risk for foreign banks, traders and crypto platforms because secondary sanctions can hit non‑U.S. parties that transact with CUPET or the Cuban energy sector.
  • The action follows prior sanctions on GAESA and other Cuban actors, has prompted condemnation from Havana and concern from U.N. rights officials, and could further restrict fuel imports and deepen power outages with tangible humanitarian effects for ordinary Cubans.