June 4, 2020

US adds seven new names to the Cuba Restricted List

On June 3, 2020, Secretary of State Michael Pompeo announced the addition of seven new sub-entities to the Cuba Restricted List, explaining that the additional names belonged to businesses whose profits were disproportionately used by the Castro regime to oppress the Cuban people, and fund interference in Venezuela.  The listed sub-entities are all military-controlled businesses, comprised of one financial institution, three hotels, two scuba diving centers and one marine park. The US hopes that restricting the financial institution, FINCIMEX, will loosen the regime’s control over the flow of currency that should belong to the Cuban people.  Pompeo also urged anyone who planned to visit Cuba to support small business owners instead of the larger mainstream businesses in Cuba’s tourist industry that are mostly owned and operated by the Cuba’s military and support the Castro regime.  The additions to the restricted list are effective June 12, 2020.

Pompeo Press Statement | Cuba Restricted List