Trump Sanction Cuba’s Banking, Mining and Steel Sector

Written By Justin Jimenez

The Trump administration piled more sanctions on key sectors of Cuba’s economy this week, targeting mining, steel production and banking.

Based on Trump’s May 1 executive order, the sanctions seek to stop Cuba from earning much-needed foreign currency. The sanctioned companies include:

  • Banco Financiero Internacional, the country's principal commercial bank for foreign transactions

  • Geominera, Cuba's state mining company and joint venture partner with Australia's Antilles Gold

  • Antillana de Acero, the country's largest steel producer

  • Almacenes Universales, a state-owned logistics company.

Justin Jimenez
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