The State Department added Unión Cuba-Petróleo, Cuba’s state-owned oil and gas monopoly, to the Office of Foreign Assets Control’s Specially Designated Nationals List on June 11. Secretary of State Marco Rubio said the move targets the entity responsible for controlling all oil production, refining, and distribution on the island.
The designation falls under Executive Order 14404, signed by President Trump on May 1, which expanded sanctions on Cuban government officials and agents. In practical terms, any US person doing business with CUPET now faces potential criminal liability, and any CUPET-linked property touching the US financial system gets frozen.
Why CUPET, and why now
The executive order specifically cited the regime’s practice of prioritizing fuel for political elites over ordinary citizens.
Treasury also sanctioned President Díaz-Canel and members of his inner circle on the same day. The combined action represents one of the most aggressive sanctions packages aimed at Havana in recent memory.
