politics
May 8, 2026
US hits the heart of the Cuban regime and companies begin to leave the country
Gaesa was already subject to U.S. sanctions. But the new measures were applied under a decree signed last week by President Donald Trump
TL;DR
- The U.S. has imposed new sanctions on key economic entities in Cuba.
- These sanctions target a joint venture involving Canadian miner Sherritt, which is leaving Cuba.
- New sanctions were also applied to Gaesa, a conglomerate controlled by the armed forces.
- Gaesa is estimated to control about 40% of the Cuban economy.
- The sanctions are in accordance with a decree signed by President Donald Trump.
- Secretary of State Marco Rubio stated that more punitive measures are expected.
- Gaesa is described as generating revenue for the corrupt elite, not the Cuban people.
- Gaesa was estimated to have $18 billion in assets.
- Trump has discussed the possibility of taking control of Cuba.
- Cuba has been under a U.S. embargo since Fidel Castro's revolution in 1959.