US tightens Cuba travel rules, restricts private sector banking
Banks can no longer serve Cuban private entrepreneurs, and people-to-people educational travel is barred as Washington expands sanctions pressure.
- Effective Wednesday, the Treasury Department implemented new restrictions on Cuba, barring U.S. banks from servicing independent entrepreneurs and eliminating 'U-turn' transactions; the Office of Foreign Assets Control also restricted categories of educational and professional travel.
- President Donald Trump and Secretary of State Marco Rubio have pursued a sustained pressure campaign to force the Communist Party to relinquish power, including ever-tighter sanctions and a de-facto fuel blockade for months.
- While Washington maintains sanctions, Bloomberg News reported last week that U.S. cargo ships made more than 200 trips to Cuba in 2026, carrying fuel, solar panels, food, vehicles and parts.
- Foreign Minister Bruno Rodr criticised the measures on X, arguing they "openly attack both the public sector and the private sector" and contradict Washington's stated goals of supporting independent businesses.
- Michael Bustamante, director of Cuban studies at the University of Miami, noted the administration lacks a clear message regarding the private sector's role, reflecting tension between Washington's stated goals and these financial restrictions.
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On Tuesday, 29 September, the United States announced a tightening of its sanctions against Cuba, including further restrictions on financial operations involving the communist regime, and measures that also affect the growing Cuban private sector.
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US tightens sanctions on Cuba: limits travel and banking operations
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced new restrictions within the sanctions program against Cuba, with changes that will take effect ... The post US tightens sanctions on Cuba: limits travel and banking operations first appeared on [your]NEWS.
Learn about the new restrictions on travel from the U.S. to Cuba: they change professional and educational authorizations since September 30.
The Office for the Control of Foreign Assets (OFAC) announced measures that prohibit "indirect" financial transactions with sanctioned Cuban entities, in particular those linked to the security apparatus and Gaesa, the economic conglomerate of the Cuban army. OFAC, attached to the Treasury Department, also eliminates the authorization of transactions known as "U-Turn", which allowed U.S. banks to process payments in dollars related to Cuba since…
Havana. “The U.S. Secretary of State repeated yesterday a list of lies with which he intends to justify collective punishment against our people, which rejected dozens of heads of delegations to the United Nations,” Cuba’s chancellor Bruno Rodríguez wrote in X. Hours later, Washington announced a new package of sanctions, including restrictions on financial operations linked to Havana, including for its private sector, and academic activities.
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