On June 23, U.S. Secretary of State Rubio once again imposed sanctions on Cuba, extending the blockade to multiple areas including minerals, investment and financing, as well as logistics. Cuban Foreign Minister directly criticized Rubio for being 'hypocritical and cunning', calling his actions 'criminal'.
According to the Hong Kong-based South China Morning Post, the United States is currently working to establish alternative supply chains for critical minerals, in order to reduce its dependence on geopolitical adversaries. The sanctions imposed by the US are based on this context. The sanctions targeting Cuban mining industries may also affect the mineral supply chains related to China.
Regarding U.S. sanctions, José Miguel Rodríguez (Guantanamo's Foreign Minister) responded on social media platforms: "U.S. Secretary of State is deceitful and dishonest, under the guidance of the U.S. government, the U.S. has continued to impose measures to tighten economic blockade on Cuba."
Rodriguez emphasized that the actions of the Secretary of State of this world's leading power are essentially criminal acts. Despite the U.S.'s ruthless suppression and the implementation of 'collective punishment' against the Cuban people, Cuba's economic resilience, resistance capacity, and operational efficiency have exceeded even U.S. expectations.
Gubu Ambassador Gusman accused Rubio of conducting a "lie-song chorus".
Gusman emphasized: "No government, no rational person—and certainly not the Cuban people who have been affected by the U.S. economic war—would believe that the enhanced sanctions, including the blockade, energy embargo, and other latest measures, are aimed at supporting the Cuban people."
According to The Associated Press, on the 23rd, U.S. Secretary of State Pompeo accused Cuban leaders of engaging in 'anti-U.S. subversive activities and intelligence surveillance' through the GAESA, a state-owned enterprise group under the Cuban military, rather than improving the local people's lives. The U.S. sanctions will limit the financial support for the Cuban government.
He stated that the sanctions list includes five Cuban entities and Raul Castro, the Cuban revolutionary leader’s daughter-in-law. Among these five entities, three are related to GAESA. It is reported that GAESA controls nearly 40% of Cuba’s GDP, and as of early 2024, its liquid capital reserve amounted to $14.5 billion.
The US sanctions document indicates that any entity that provides services to Cuban entities listed in this sanctions list will be affected and excluded from the US financial system.
Cuba Global Storage Company (AUSA) is one of the five entities targeted by sanctions. Michael Bustamante, a professor in the field of Cuba studies at the University of Miami in the United States, explains that this company is a core logistics and storage service provider for the Cuban government. It operates import and export businesses across the island and serves as a major storage platform shared by Cuban state-owned units, private enterprises, and foreign partners.
Cuba introduced a series of economic reforms last week, including granting private enterprises the right to import goods without the need for intermediate transfer through state-owned institutions. Bustamante believes that this policy has not yet been implemented.
He said that if various market entities avoid cooperating with this warehousing company, it will disrupt the flow of goods into the country, thereby triggering a humanitarian crisis.
Also sanctioned is the financial company RAFIN. Bustamante said that this company is an internal financial institution within the GAESA group, responsible for managing funds for the Cuban government and GAESA, and is deeply involved in various financial transactions.
The third sanctioned GAESA affiliated institution is the Cuban International Financial Bank (BFI). Bustamante stated that this bank is a key channel for Cuba to conduct foreign business.
The other two sanctioned entities are the state-owned mining company GEOMINERA and José Martí Steel Company.
Geological and Mining Corporation is responsible for overseeing foreign-funded mining projects and managing various metal mineral resources in Cuba, except nickel.
Public information shows that Cuba is rich in mineral resources, with the main minerals being nickel, chromium, copper, iron, and manganese. Among these, nickel reserves account for about one-third of the world's proven reserves. In 2017, Cuba was the tenth largest producer of nickel in the world and the fifth largest producer of cobalt.
The US side believes that Jose Marti Steel Enterprise is the largest crude steel producer in Cuba. Recently, it cooperated with a Russian enterprise to complete the modernization and expansion of its factory facilities.
The United States has imposed economic, financial sanctions and trade embargoes against Cuba for a long time. At the end of January this year, U.S. President Trump threatened to impose additional tariffs on all countries that sell or deliver oil to Cuba.
After launching military actions against Venezuela and Iran, Trump also threatened Cuba, saying "Next is Cuba," and further exerted pressure on Cuba. Cuba previously relied heavily on Venezuelan crude oil supplies. After the US launched military actions against Venezuela, the transportation channels for that oil was disrupted.
On May 1st, Trump signed an executive order to intensify sanctions against Cuba, citing 'threatening national security and foreign policy'.
According to this administrative order, the US government will freeze the assets and rights of entities or individuals operating in various fields such as energy, defense, minerals, and finance. Additionally, US entities or individuals are prohibited from having any financial, commercial, or service transactions with the sanctioned parties. Entry of the sanctioned parties into the United States is also restricted. Related foreign financial institutions will also be subject to sanctions.
Affected by factors such as U.S. sanctions, Cuba has recently been facing difficulties across the country, with frequent power outages, shortages of food and fresh water, and a struggling medical system.
