U.S. Tightens Cuba Banking, Travel Restrictions

The Trump administration has tightened U.S. sanctions on Cuba, effective September 30, 2026, revoking a 2024 authorization that let U.S. banks maintain accounts for Cuban private-sector entrepreneurs. Banks must block and report funds in affected accounts unless another authorization applies, and entrepreneurs will need a specific license to access blocked funds. The rules also end permission for certain dollar transactions involving Cuba that begin and end outside the United States, expand restrictions on direct and indirect dealings with entities linked to Cuba’s security services, and warn that foreign banks facilitating significant transactions could face sanctions. The administration has also restricted some cultural, educational and professional travel, requiring U.S. government authorization for activities that had previously been permitted.