The U.S. government has imposed fresh sanctions on Cuban state companies, a move analysts predict will deter foreign investment and exacerbate the island nation's severe economic challenges.
The measures, announced Tuesday, target five Cuban entities, including three with ties to Grupo de Administración Empresarial S.A. (GAESA), a business conglomerate overseen by Cuba’s Revolutionary Armed Forces. GAESA, which is estimated to control nearly 40 percent of Cuba's gross domestic product, held $14.5 billion in liquid reserves as of early 2024.
