June 2026: TRUMP PRESIDENCY U.S. pulls the plug on Cuban oil giant CUPET in sweeping new sanctions

U.S. pulls the plug on Cuban oil giant CUPET in sweeping new sanctions
"The U.S. government announced strict new sanctions on Thursday against Unión Cuba-Petróleo (CUPET), Cuba’s state-owned oil and gas company. The move freezes all of the company’s property in the United States and makes it illegal for any American citizen or

business to conduct financial or trade transactions with the energy firm.
The penalties fall under Executive Order 14404, which President Trump signed on May 1. U.S. officials say the sanctions are a direct response to how the Cuban government is managing the island’s severe energy crisis.
According to the official press statement, “energy has long been weaponized by Cuba’s Communist government as a tool of both repression and self-serving regime kleptocracy.”
The U.S. government accuses Cuban leaders of taking scarce fuel meant for the public and reselling it on the secondary market. Officials also claim the regime hoards energy for its military and intelligence agencies, prioritizing power for luxury tourist hotels while regular citizens deal with relentless blackouts and wait weeks to fill up their cars. The government also noted that some of CUPET’s main assets were originally seized from American owners years ago." 

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