On December 21, 2020, the US Department of the Treasury’s Office of Foreign Assets Control identified the Grupo de Administración Empresaria S.A. (GAESA), a government enterprise controlled by the Cuban military with interests in tourism and other financial sectors of Cuba’s economy, along with two of its subsidiaries, the Financiera Cimex S.A. (FINCIMEX) and Kave Coffee, S.A. All three entities were identified on OFAC’s List of Specially Designated Nationals and Blocked Persons, pursuant to the Cuban Assets Control Regulations (CACR), 31 CFR part 515, for facilitating the Cuban regime’s efforts to circumvent international trade restrictions, in violation of US sanctions.
The State Department has also listed GAESA and FINCIMEX on its List of Restricted Entities and Subentities Associated with Cuba, also known as the Cuba Restricted List (CRL), to sanction entities controlled by the Cuban government, that prioritize the needs of the government over the needs of the Cuban people or private enterprises in Cuba.
Department of Treasury Press Release