The US tightened sanctions against Cuba, introducing secondary restrictions on foreign banks

The US has tightened sanctions against Cuba, including the introduction of secondary restrictions on foreign banks.

The accounts of Cuban entrepreneurs in US banks have been frozen, and transit payments through the American banking system have been cancelled.

A ban has been introduced on holding conferences in Cuba for US citizens and residents, and group educational trips have been cancelled.

WASHINGTON, September 29 – RIA Novosti. The United States has significantly tightened sanctions against Cuba, including the introduction of secondary restrictions on foreign banks, freezing the accounts of Cuban entrepreneurs and a ban on holding conferences on the island, according to a message from the US Treasury.

The new measures take effect on September 30 to implement President Donald Trump's May executive order imposing sanctions on individuals who pose a threat to US national security and foreign policy.

The updated restrictions against Cuba include the imposition of secondary sanctions on foreign financial institutions for conducting transactions in the interests of persons on US sanctions lists, as well as an outright ban on US banks opening and servicing accounts of Cuban entrepreneurs, with a mandatory immediate freeze of existing funds, according to the report.

In addition, Washington completely canceled permission to make transit payments through the American banking system and prohibited any direct or indirect settlements with structures from the list of sanctioned Cuban organizations controlled by the Cuban military and state security agencies.

Washington has also tightened travel rules for Americans. U.S. citizens and residents are now prohibited from organizing or attending professional conferences on the island, group educational trips as part of humanitarian exchanges are canceled, and remaining educational visits are transferred to the strict control of accredited American organizations, according to the Treasury Department.

The tightening of sanctions became another round of pressure from Washington. Back in January, Trump declared a state of emergency and authorized tariffs against countries exporting oil to Cuba, which worsened fuel shortages, caused multi-day power outages and hit key sectors of the island's economy.

In a speech at the UN General Assembly, Trump called Cuba an “absolutely failed state” and said that his administration intends to achieve “radical changes” in the situation on the island.