On Thursday, Miguel Díaz-Canel responded to the latest sanctions announced by Washington against Cuba with a statement acknowledging that these measures "intensify an already challenging situation" for the nation. However, he asserted that they simultaneously "strengthen our resolve to defend the Homeland, the Revolution, and Socialism."
Secretary of State Marco Rubio unveiled the new sanctions under Executive Order 14404, signed by President Donald Trump on May 1.
The sanctions target GAESA—a military conglomerate that controls between 40% and 70% of Cuba's formal economy—along with its executive president, Ania Guillermina Lastres Morera, and the state-owned mining company Moa Nickel S.A.
Rubio referred to GAESA as "the heart of the Cuban kleptocratic system" and warned of "additional designations in the coming days and weeks."
In his post, Díaz-Canel described the sanctions as "unilateral aggression" and "pernicious interference from American imperialism," asserting that the Cuban people "understand, as does the rest of the world," that the island only desires "to live in peace, masters of their own fate."
The Cuban leader's rhetoric has been escalating since early May.
Last Saturday, he declared that "no aggressor, regardless of their might, will find surrender in Cuba," and on Sunday, he warned of an "imminent military aggression" from the U.S. during an International Solidarity Meeting with Cuba.
Foreign Minister Bruno Rodríguez Parrilla also reacted to Rubio's statements, calling them "cynical, hypocritical, and deceitful," and labeled the sanctions as "illegal and abusive" with "genocidal intent."
The immediate impact of these measures was swiftly felt.
Canadian company Sherritt International—a partner in Moa Nickel—suspended all operations in Cuba, announced the resignation of its board of directors, and began repatriating its employees. Its stock plummeted by 30% during the day.
The U.S. has set a deadline of June 5 for foreign companies and financial institutions to cease operations with GAESA, under threat of secondary sanctions.
These new measures add to accumulated pressure that, since January 2026, has resulted in over 240 sanctions against the regime, interception of at least seven tankers headed to the island, and an 80-90% reduction in Cuban energy imports.
Such a context exacerbates an already severe crisis: power outages have surged to up to 25 hours daily in more than 55% of the territory, and the Cuban economy is projected to shrink by 6.5% to 7.2% in 2026, according to forecasts by CEPAL and The Economist Intelligence Unit.
While the regime clings to revolutionary rhetoric, Rubio emphasized that the strategy of maximum pressure on Cuba is far from over: additional designations may occur before the June 5 deadline.
Impact of U.S. Sanctions on Cuba
How do the new U.S. sanctions impact Cuba's economy?
The new sanctions intensify the pressure on Cuba's economy by targeting major economic players like GAESA and Moa Nickel S.A., leading to operational suspensions and impacting foreign partnerships such as that with Sherritt International. This adds to the ongoing crisis, with significant reductions in energy imports and economic contraction.
What is GAESA's role in the Cuban economy?
GAESA is a military conglomerate that controls a substantial portion, estimated between 40% and 70%, of Cuba's formal economy. It is integral to various sectors and is considered by U.S. officials as central to the Cuban government's financial operations.