President Donald Trump signed an executive order Friday authorizing sweeping new sanctions against Cuba, targeting foreign banks and companies that conduct business with the island nation. The order dramatically expands the existing U.S. embargo by permitting the Treasury Department to block American assets held by foreign entities engaged in key sectors of the Cuban economy.
The directive applies to foreign persons operating in energy, defense, mining, and financial services within Cuba. Beyond these designated sectors, the order grants the secretaries of Treasury and State Department authority to add additional economic sectors to the sanctions regime at their discretion, providing broad flexibility to expand the measures further.
The executive order represents a significant hardening of U.S. policy toward Cuba compared to recent years. By targeting the financial and operational connections between Cuba and the broader global economy, the administration aims to intensify economic pressure on the Cuban government.
