Treasury Dept. announces new sanctions against Cuban military-owned companies

On Monday the U.S. Treasury Department announced three new companies owned by the Cuban military have been added to the sanctions list, further curbing the flow of cash into the coffers of the communist Castro dictatorship.

Via Mirage News:

Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) added three Cuban military-owned companies to its Specially Designated Nationals and Blocked Persons List (SDN List). All property and interests in property of these entities that are in the United States or in the possession or control of persons subject to U.S. jurisdiction continue to be blocked and must be reported to OFAC.

The companies are Grupo de Administración Empresarial SA (GAESA), FINCIMEX, and Kave Coffee S.A. GAESA is the Cuban military’s largest company, which controls large portions of Cuba’s economy for the military’s benefit. Cuban military-controlled FINCIMEX funnels remittances through channels that disproportionately benefit the Cuban military. Kave Coffee S.A., a coffee company domiciled in Havana and incorporated in Panama, is part of an international network of Cuban-owned companies maintained by the Cuban military and used to evade the U.S. embargo.

The revenue generated from the Cuban military’s economic activities is used to entrench the Cuban military’s control, prop up the Cuban Communist Party’s power, oppress the Cuban people, and fund Cuba’s interference in Venezuela. Today’s action demonstrates the United States’ long-standing commitment to ending economic practices that disproportionately benefit the Cuban government or its military, intelligence, and security agencies or personnel, at the expense of the Cuban people. It also demonstrates the United States’ commitment to disrupting Cuba’s malign support for the illegitimate Maduro regime in Venezuela.

How long these entities remain on the SDN list remains to be seen. These sanctions will likely be reversed by a Biden administration, which appears more interested in appeasing and supporting Cuba’s repressive socialist regime than it does helping the enslaved Cuban people.