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ARTICLE · 10 SEPTEMBER 2026

Weekly Sanctions Update: September 8, 2026

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Global sanctions enforcement intensifies as the US expands its economic pressure campaigns against Cuba, Iran, and Venezuela while the UK and EU strengthen their Russia sanctions frameworks. Meanwhile, China pushes back against US sanctions targeting its companies over alleged Iran ties, and a Dutch chipmaker faces asset freezes amid a complex ownership dispute involving Chinese courts.

GlobalGovernment, Public Sector
Steptoe LLP
Steptoe LLP

US Developments

State Department Sanctions Six Targets in Cuban Financial, Metals and Mining, and Energy Sectors

On September 3, the State Department designated five entities and one inpidual related to Cuba’s financial services, metals and mining, and energy sectors. These actions were pursuant to Executive Order (“E.O.”) 14404, “Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to United States National Security and Foreign Policy.”

The designated entities include Banco Exterior de Cuba, a state-owned financial institution; two subsidiaries of the state-owned petroleum company, Union Cuba Petroleo (“CUPET”); Empresa de Servicios Comandante René Ramos Latour, a state-owned mining support services company; and Empresa Importadora y Abastecedora del Níquel, a state-owned nickel industry support services company. Additionally, the State Department designated Fidel Ernesto Castro Calis, who is the grandson of Raúl Castro.

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