Trump Administration Tightens Travel and Financial Restrictions on Cuba: Havana Condemns New Escalation of the Blockade

Original article: Trump restringe viajes y operaciones financieras con Cuba: La Habana denuncia nueva escalada del bloqueo

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury announced new sanctions against Cuba implemented by the Donald Trump administration, directly affecting travel and financial transactions, two critical areas for the island’s economic activity. Havana immediately rejected these restrictions, denouncing a new escalation of the blockade and an intensification of economic pressures from Washington.

In a message posted on his X social media account, Cuban Foreign Minister Bruno Rodríguez Parrilla stated that these new blocking measures «aim to hinder the ongoing economic transformations» in the Caribbean nation.

«The U.S. government has issued another wave of blocking measures against the Cuban people. Among them, they eliminate people-to-people exchanges and further limit academic and research activities. Additionally, they are strengthening prohibitions on private entities in Cuba conducting direct business with the U.S. and U.S. banks, as well as enforcing a ban on U-turn transactions. Indirect operations with entities on the State Department’s unilateral list of restricted entities are also prohibited,» explained the head of Cuban diplomacy.

Rodríguez warned that with this new onslaught from the Trump administration, both the public and private sectors are openly attacked, the very sectors that some U.S. officials claim they want to assist in their development.

«Cuba is not a threat; the blockade is,» he concluded.

New Financial Restrictions Intensify the Blockade Against Cuba

On the mobility front, the OFAC prohibited anyone under U.S. jurisdiction from traveling to the island to participate in or organize professional meetings, conferences, or similar events. This restriction came into effect on September 30, according to the announced provisions. Additionally, group educational trips known as «people to people«, a program previously authorized by OFAC that allowed exchanges between citizens of both countries under pre-approved licenses, have been eliminated.

The tightening also affects educational travel starting from September 30, 2026. From that date, individuals under U.S. jurisdiction undertaking educational trips related to Cuba must do so under the auspices of an organization subject to U.S. jurisdiction, and nearly all travelers will need to be accompanied by a representative of the sponsoring organization. This measure significantly reduces the autonomy that existed in previous stages.

In terms of finance, the new regulations expand the prohibition against U.S. citizens from conducting direct or indirect transactions with entities included in the Cuba Restricted List. Furthermore, the authorization for «U-Turn» banking transactions, which allowed U.S. financial institutions to process certain transfers related to Cuba when both the origin and destination were outside the U.S., has been eliminated.

Another key aspect of the sanctions package imposed by Trump impacts entrepreneurs and economic actors in Cuba who had managed to open bank accounts abroad. According to the new provisions, such accounts cannot be opened or maintained unless the holders obtain a specific authorization from OFAC.

Starting September 30, 2026, banking institutions that previously held accounts for these individuals, under the repealed section 31 CFR § 515.584(h)(2), will be obliged to block all such funds and accounts and report them to OFAC unless authorized separately. Access to blocked funds will require a specific license from OFAC.

These decisions add to sanctions previously announced by Washington against Cuban institutions and entities, including CONSUMIMPORT, ACOREC S.A., the Ministry of Construction, ACINOX Comercial, GEOMINSAL, and METALCUBA, as well as executives of the Cuban Institute for Friendship with People (ICAP). Meanwhile, Cuba continues to implement 176 economic measures aimed at attracting foreign currency and establishing partnerships with banks and international institutions, which may face new hurdles due to the latest restrictions.