The United States announced Tuesday a significant expansion of sanctions against Cuba, including restrictions on financial operations and reduced travel permissions for American citizens, according to the Treasury Department's Office of Foreign Assets Control (OFAC).
The new measures, effective September 30, prohibit indirect financial transactions with sanctioned Cuban entities, particularly those linked to the country's security apparatus and Gaesa, the economic conglomerate of the Cuban military. The restrictions were announced under President Donald Trump's May executive order on sanctions policy.
OFAC eliminated authorization for "U-Turn" transactions, which since 2024 had allowed U.S. banks to process dollar payments related to Cuba provided the funds' origin and destination were outside the United States and did not involve American citizens. The office also revoked authorization permitting U.S. banks to open and maintain accounts for certain Cuban business operators.
Secondary sanctions targeting foreign banks conducting business with Cuba have been introduced as part of the expanded restrictions. Accounts held by Cuban entrepreneurs in U.S. banks have been frozen, and transit payments through the American banking system have been canceled.
Travel restrictions were also tightened. U.S. persons subject to American jurisdiction are now prohibited from organizing or attending professional meetings or conferences in Cuba. Educational travel to Cuba is restricted, with exceptions limited to accredited U.S. undergraduate and graduate institutions, their students, and full-time permanent staff conducting specific educational activities. Travelers must be sponsored by a U.S. organization subject to American jurisdiction, and nearly all passengers must travel with a representative of the sponsoring organization.
Previously permitted "people-to-people" educational group travel is no longer authorized. However, individuals who initiated transactions such as purchasing airline tickets before September 30 may complete those trips under existing authorizations.