Washington, June 12: The United States has imposed new sanctions on Cuba’s state-owned oil and gas company, Union Cuba-Petroleo (CUPET). The Trump administration has accused Havana of using its energy resources to maintain repressive policies and benefit top leadership.
Under these sanctions, all assets and interests of CUPET in the U.S. or under the control of American individuals will be frozen, and this information must be reported to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC).
U.S. Secretary of State Marco Rubio announced the designation of CUPET as a sanctioned entity under Executive Order 14404 by President Donald Trump.
Rubio stated that the Cuban Communist government has long exploited energy resources as tools of oppression and corruption. Due to decades of insufficient investment in infrastructure, ordinary Cubans face fuel shortages and frequent power outages, while the country’s leadership benefits from these resources.
He alleged that despite the energy crisis, Cuban leaders have sold oil and fuel to other markets, stockpiled energy for the military and intelligence agencies, and used energy supply as a weapon of social control.
Rubio highlighted the stark contrast between the struggles of ordinary Cubans, who wait weeks to refuel their vehicles and endure ongoing electricity shortages, and the Castro family, which travels by private jet. He also noted that the government prioritizes electricity supply for luxury tourism hotels.
Additionally, Rubio claimed that some of CUPET’s key assets were illegally acquired from American owners years ago. He emphasized that the Trump administration will continue to target Cuba’s ability to strengthen its corrupt agenda and oppressive security apparatus through energy trade. Any transactions with the sanctioned entity will be prohibited unless special permission is obtained from OFAC.
The U.S. State Department warned that foreign individuals, companies, and financial institutions connected to sanctioned entities or designated economic activities in Cuba could also fall under the sanctions. The U.S. has stated that the goal of these sanctions is not only punitive but also aimed at fostering positive changes in behavior.
For over six decades, the U.S. has maintained various economic sanctions against Cuba, regarded as one of the longest sanctions programs in modern history.
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