US tightens Cuba sanctions further
New US rules block certain accounts, restrict financial transactions and make educational travel more difficult.
The United States has tightened sanctions against Cuba further. US banks may no longer hold certain accounts belonging to Cuban entrepreneurs, while indirect financial transactions and some forms of travel are also restricted.
The new rules from the US sanctions watchdog OFAC come into force on Wednesday 30 September. Banks under US jurisdiction may no longer open or maintain accounts held solely in the name of Cuban entrepreneurs from the independent private sector and intended for authorised or exempt transactions. Under OFAC rules, existing accounts and funds must be blocked immediately, unless another authorisation applies.
So-called U-turn transactions are also being discontinued. These involved payments with a Cuban interest passing through a US bank, even though they began and ended outside the United States without a US party being involved. Banks may henceforth only refuse such transactions; the previous general authorisation to process them is being withdrawn.
The ban is also being extended to indirect financial transactions with organisations on the US Cuba Restricted List. The list contains organisations and entities that Washington says are controlled by, or act on behalf of, the Cuban military, intelligence services or security apparatus. Transactions intended to circumvent these prohibitions are also covered by the tightened rules.
The rules are also changing for travellers. Group trips under the ‘people-to-people’ category, which focused on education and contact with Cubans, are no longer generally authorised. Fewer options are available for professional meetings, research and other educational activities. Travellers who had already made a relevant booking or payment before 30 September may, subject to conditions, use transitional arrangements.
The measures follow earlier rounds of sanctions and implementing rules from a presidential order issued in May. According to OFAC, foreign individuals and financial institutions that conduct significant transactions with sanctioned Cuban parties may also be affected. At the same time, the US government says humanitarian deliveries of food, medicines and medical equipment are not the primary target of this sanctions programme.
Cuban Foreign Minister Bruno Rodríguez rejected the new rules. He said the restrictions instead hinder the development of Cuban private businesses, academic exchange and economic reforms. That response is a political assessment by Havana; it has not been independently established that the measures will actually cause the reforms to fail.
The precise scale of the financial consequences is not yet known. OFAC has published neither the number of blocked accounts nor an estimate of the economic damage. Nor do the rules constitute a blanket ban on foreign businesses: existing exemptions and specific licences remain possible, while tourist travel for people under US jurisdiction has already been prohibited for some time.
One story, several perspectives
What is established
- As of 30 September 2026, OFAC has limited or withdrawn several existing exceptions in the Cuba sanctions rules.
- Certain accounts belonging to Cuban private entrepreneurs must be blocked unless another authorisation applies.
- The United States is maintaining humanitarian exemptions for, among other things, food, medicines and medical equipment.
Left
Arguments Sanctions that also affect private entrepreneurs and financial intermediaries are more likely to harm ordinary Cubans than the political leadership. Priority should be given to humanitarian aid, economic space for citizens and diplomatic pressure to respect human rights.
Values International solidarity, social protection, human rights and limiting collective punishment.
Consequences Greater financial uncertainty, less room for small businesses and potentially additional pressure on households dependent on trade, travel or money transfers.
Centre
Arguments Targeted sanctions can be defensible when they affect military and security structures, but broad financial restrictions require clear exemptions, oversight and diplomatic avenues for resolving disputes. Humanitarian channels must demonstrably continue to function.
Values Proportionality, legal certainty, institutional oversight and protection of civilians.
Consequences Pressure on Havana remains, but effectiveness depends on enforcement, exemptions and both governments' willingness to negotiate.
Right
Arguments The Cuban government may be using economic reforms and private businesses to maintain its power base. Closing financial back doors may therefore be necessary to force the political elite to make real concessions.
Values National security, enforcement, political accountability and pressure on authoritarian regimes.
Consequences Stronger economic pressure could improve Washington's negotiating position, but could also lead to countermeasures, less trade and a further hardening of the conflict.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The article's central claim is based directly on the current OFAC rules and is confirmed by an independent news source. Reactions and possible consequences are clearly presented as positions or uncertainties.
- confirmed The new OFAC rules come into force on 30 September 2026. — OFAC repeatedly states this effective date in its updated Cuba FAQs. source
- confirmed US banks must block certain accounts belonging to Cuban private entrepreneurs. — OFAC describes the removal of the authorisation and the obligation to block existing funds and accounts. source
- confirmed U-turn transactions may no longer be processed by US banks. — OFAC says banks may henceforth only refuse such transactions. source
- confirmed Group trips under the people-to-people category are no longer generally authorised. — OFAC removed this general authorisation as of 30 September 2026, with transitional rules. source
- confirmed US rules have already prohibited tourist travel to Cuba for people under US jurisdiction for some time. — The US government states that tourist travel remains prohibited by law. source
- confirmed Bruno Rodríguez rejected the measures and says they hinder Cuban reforms. — His response has been attributed to him by Bloomberg Línea and other public sources. source
- confirmed The precise economic consequences and the number of blocked accounts remain unknown. — The official and independent sources consulted provide no total figures for these. source
Editor's note
The precise rules and effective date have been confirmed by OFAC. The Cuban government's response has been attributed to Bruno Rodríguez; the eventual economic consequences and the number of affected accounts remain unknown.Sources
- Consolidated Frequently Asked Questions: Cuba Sanctions — Office of Foreign Assets Control, U.S. Department of the Treasury
- Cuba International Travel Information — U.S. Department of State
- US tightens Cuba travel rules, restricts private sector banking — The Straits Times
- Trump impone nuevas restricciones bancarias al sector privado de Cuba — Bloomberg Línea
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