Executive Order 14404 imposes sanctions related to Cuba

Executive Order 14404 authorizes the Secretary of the Treasury and the Secretary of State to impose sanctions on foreign persons determined to be involved in specified harmful activities related to Cuba. These activities include operating in identified sectors of the Cuban economy such as energy, defense and related materiel, metals and mining, financial services, and security sectors. They also include acting for or on behalf of the Government of Cuba or blocked persons and being responsible for or complicit in serious human rights abuse or corruption related to Cuba. The order establishes a new Cuba-related sanctions program under the International Emergency Economic Powers Act. This program is separate from and in addition to the Cuban Assets Control Regulations. All existing prohibitions and authorizations under the Cuban Assets Control Regulations remain in effect. Executive Order 14404 states that its prohibitions and actions taken pursuant to it do not affect the validity of licenses issued under the Cuban Assets Control Regulations. On May 7, 2026, OFAC issued Cuba-related General License 1. The license authorizes all transactions prohibited by Executive Order 14404 where those transactions are authorized or exempt under the Cuban Assets Control Regulations. The order broadens United States sanctions on Cuba to include authorizing sanctions on non-Cuban foreign persons for providing support to Cuba. It also covers sanctions on foreign financial institutions for conducting or facilitating significant transactions involving persons blocked pursuant to the order. Foreign persons and foreign financial institutions should be aware of the new sanctions risk for engaging in certain conduct with Cuba as outlined in the order.