The United States Department of the Treasury announced on July 13, 2026, new sanctions targeting Cuba’s Ministry of Tourism along with two state-owned companies, Grupo Empresarial de Transporte Maritimo Portuario (GEMAR) and Grupo Empresarial del Comercio Exterior (GECOMEX). Entities conducting business or financial transactions with these Cuban bodies have been given until August 12, 2026, to terminate existing contracts to avoid penalties.
Background on Sanctions and Power Outages
These sanctions follow a May 2026 US executive order empowering the Treasury to freeze assets in the United States of individuals or organizations supporting Cuba’s government or economy, while increasing scrutiny on banks engaging with Cuban entities. The
move comes amid the ongoing US oil blockade imposed after the abduction of Venezuelan President Nicolas Maduro by US agents in January 2026. Venezuela, a key fuel provider to Cuba, ceased shipments, and Mexico also stopped supplies under US pressure. This fuel embargo has caused severe electricity blackouts, affecting more than 10 million Cubans and resulting in four nationwide outages during 2026, including two within one week in early July.
Official Statements from US and Cuban Diplomats
During a United Nations General Assembly debate, US Ambassador Mike Waltz labeled Cuba’s government a “national security threat” and accused Russia and China of intelligence gathering near US military installations
in Cuba. He urged Cuban leadership to alter its course and restore power to its citizens. In response, Cuba’s Minister of Foreign Affairs Bruno Rodriguez Parrilla condemned the sanctions as “an act of collective punishment” and described them as “a systematic violation of the human rights of an entire people.”
Impact and Financial Figures
Cuban Foreign Minister Bruno Rodriguez Parrilla highlighted that from March 2025 to February 2026, US embargoes caused economic damages exceeding $8 billion, compounded by the additional strain from the ongoing fuel blockade. The power outages and sanctions together have intensified infrastructural challenges impacting sectors including tourism, which relies on stable
energy and cooperation with state companies such as GEMAR and GECOMEX.
