OAN Staff Jenna Lee and Katherine Mosack
9:09 AM – Saturday, May 2, 2026
President Donald Trump has signed an executive order (EO) tightening sanctions on Cuba and authorizing penalties against foreign companies and banks that do business with the country.
The order, signed on Friday, increases pressure on Cuba’s government and builds on a January EO labelling Cuba as a national security threat to the U.S.
The new order authorizes the U.S. to freeze assets, block financial transactions and impose penalties on foreign financial institutions or individuals who:
- Support Cuba’s security or intelligence,
- Are involved in corruption or serious human rights abuses related to Cuba,
- Act as officials, agents, or material supporters of the Cuban regime, or
- Operate in key sectors of Cuba’s economy, including, but not limited to, energy and defense.
The EO reserves the Secretary of the Treasury and the Secretary of State’s right to determine which sectors are barred from operation.
“This sends multiple messages. One, that the U.S. hasn’t forgotten about Cuba. Two, it signals to countries like Russia and China — who have shown growing interest in Cuba — to stay out. And three, it’s a warning tied to migration concerns,” stated Andy Gomez, retired University of Miami professor and Cuba expert.
The order exempts trade and financial transactions authorized under licenses, embargo exceptions, or other government approvals.
Senator Ashley Moody (R-Fla.) has been at the forefront of the fight for Cuban rights and freedoms, having co-sponsored the Denying Earnings to the Military Oligarchy in Cuba and Restricting Activities of the Cuban Intelligence Apparatus (DEMOCRACIA) Act to impose sanctions on the country’s communist regime.
She took to X on Friday to emphasize the order’s importance for Cuban Americans who “fled tyranny and have long called for action.”
“I stand firmly behind the President’s decisive action today. The [Cuban] regime is sustained by repression [and] corruption, and aligned with our adversaries to threaten U.S. security,” she wrote. “These sanctions send a clear message. No more concessions, no more lifelines. Freedom for the Cuban people requires zero tolerance for dictatorship.”
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