safety
US slaps new sanctions on Cuban companies key to island’s crumbling economy
By Kevin Boulandier at WSVN 7 News
· June 23, 2026
· 5 min read
SAN JUAN, Puerto Rico (AP) — The U.S. hit Cuban state companies on Tuesday with new sanctions that analysts say are expected to spook foreign investors and deepen a severe economic crisis. U.S. Secretary of State Marco Rubio said the sanctions target five Cuban entities, including three linked to Gr
Key takeaway Secretary of State Marco Rubio said the sanctions target five Cuban entities, including three linked to Grupo de Administración Empresarial S.
Why this matters in The Miami
The new US sanctions on Cuban companies will likely have a ripple effect in Miami , given the city's strong cultural and economic ties to the island. Many Miami residents have family members or business interests in Cuba, and the sanctions may further restrict their ability to send remittances or invest in the Cuban economy. The sanctions targeting GAESA, a business conglomerate run by Cuba's Revolutionary Armed Forces, may also impact Miami's Cuban-American community, which has historically been involved in trade and commerce with the island. As the largest hub for Latin American and Caribbean communities in the US, Miami may see an increase in advocacy efforts and diplomatic activity related to the sanctions, particularly in neighborhoods like Little Havana and Wynwood, where Cuban culture and politics are deeply ingrained. The University of Miami's expertise in Cuban and Cuban-American Studies may also play a role in shaping the local response to the sanctions.
About this story
Original reporting by WSVN 7 News . The Miami surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit WSVN 7 News . Have a tip or correction? Contact our newsroom .
Category: safety ·
Published: June 23, 2026 ·
Source: WSVN 7 News ·
Reading time: 5 min
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Frequently asked about this story
What is this story about? SAN JUAN, Puerto Rico (AP) — The U.S. hit Cuban state companies on Tuesday with new sanctions that analysts say are expected to spook foreign investors and deepen a severe economic crisis. U.S. Secretary of State Marco Rubio said the sanctions target five Cuban entities, including three linked to Gr
When was this published? This article was first published on June 23, 2026 by WSVN 7 News and curated for The Miami readers.
Who reported this story? This story was reported by Kevin Boulandier at WSVN 7 News. To learn more about how The Miami selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more safety coverage from The Miami, or browse our daily briefing and topic hubs .
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