Story perspectives

Trump Sanctions Cuban Tourism Ministry, Threatening 60% Revenue Loss

7/14/2026

Summary

Story summary

July 13, 2026, President Donald Trump sanctioned ten Cuban entities, freezing assets.
The sanctions uniquely include the Ministry of Tourism, Cuba’s top non-military foreign-currency earner.
The State Department warned foreign banks, insurers and shippers of secondary U.S. sanctions.
Cuban Foreign Minister Bruno Rodríguez called the sanctions a criminal attempt to punish the people.
Economists warn tourism, 14% of exports and 8% of GDP, may lose over 60% of revenue.

History

Historical Context

In October 1992 President George H.W. Bush signed the Cuban Democracy Act, tightening the embargo first enacted in 1961 and ending U.S. subsidiaries’ trade with Cuban state firms. The act followed a 95 % cut to Cuba’s sugar quota in the early 1960s, illustrating how secondary sanctions—now aimed at the Ministry of Tourism—continue to pressure Havana’s economy.

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Story summary

July 13, 2026, President Donald Trump sanctioned ten Cuban entities, freezing assets.
The sanctions uniquely include the Ministry of Tourism, Cuba’s top non-military foreign-currency earner.
The State Department warned foreign banks, insurers and shippers of secondary U.S. sanctions.
Cuban Foreign Minister Bruno Rodríguez called the sanctions a criminal attempt to punish the people.
Economists warn tourism, 14% of exports and 8% of GDP, may lose over 60% of revenue.

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