US President Donald Trump has signed an executive order to broaden sanctions on the Cuban government. The order blocks all property and interests in the US or controlled by US persons related to individuals operating in sectors like energy, defense, metals, financial services, and security in Cuba. It also restricts Cuba’s access to the global banking system by imposing secondary sanctions on entities engaging in financial transactions with sanctioned individuals.
The order, issued by Trump, targets those who own or control entities with blocked property. It authorizes penalties on foreign financial institutions involved in significant transactions with Cuban government affiliates. The Secretary of State and the Secretary of the Treasury are empowered to enforce the order and its implications.
For over six decades, the US has upheld sanctions against Cuba, with a trade embargo officially established in 1962. These sanctions have persisted, occasionally tightening or loosening, over the years. The recent executive order signifies a move to further limit Cuba’s economic interactions on the global stage.
