On June 11, 2026, Secretary of State Marco Rubio announced sanctions against Union Cuba-Petroleo, Cuba's state-owned oil and gas company. The sanctions block all property and interests in property between the United States and the company, requiring all dealings to be reported to the Treasury Department’s Office of Foreign Assets Control.
Rubio stated that he is authorized to impose these sanctions under executive order 14404, which aims to increase economic pressure on the Cuban government and foreign companies engaging with it. The State Department claims that Union Cuba-Petroleo serves as a tool for repression and kleptocracy, contributing to fuel shortages and blackouts for the Cuban populace while benefiting the regime's leaders.
The Trump administration has focused on sanctions against Cuba's government, with the goal of weakening its leadership to promote democratic reforms. Recently, Rubio also announced sanctions against GAESA, a Cuban economic conglomerate, and the State Department issued sanctions against Cuban President Miguel Diaz-Canel and several other individuals and entities.