Turkiye-Based, Russia Federation-Connected Hotel Management Company Relinquishes Properties In Cuba

From company: “ATG (Anex Tourism Group) has been one of the world’s leading tour operators for 27 years and a dominant force in the tourism industry offering travel agents and tour operators exclusive access to quality hotels and resorts around the world.  ATG owns and operates tour operations throughout Europe, three hotel chains, Selectum Blu Cruises and a worldwide network of Destination Management Companies.”

From LinkedIn Profile: “Anex Tourism Group (ATG) Turkey [Turkey] is one of the nation’s largest and fastest-growing business travel management companies offering best-in-class products, services and industry expertise to a diverse portfolio of corporate clients.  ATG Turkey is a member of ATG Global which is a leading global business travel management company based in New Albany, Ohio, U.S.A.  ATG Global covers the globe with more than 176.000 experienced travel professionals serve in over 72 countries.”

From company: “Neşet Koçkar is the founder and owner of ANEX Tourism Group companies.  Growing in a rapid and confident manner, ANEX now operates under the name ANEX Tour is operating more than 35 countries.  Mr. Koçkar also has lodging industry investments in various countries.  In Turkey, his company has Zen Hotels (Phaselis Princess Hotel and The Inn Resort Hotel) and Life Hotels (Green Hill Hotel) umbrella brands as well as Syedra Princess Hotel, Sun Princess Hotel, Vista Hotel, and Anex Sky Hotel.  As of 2017, Selectum Luxury Resort Hotel, which serves in the five-star and luxury segments, opened its doors in Belek, Antalya.  The Group boasts hotel management investments in Vietnam and Thailand under the brand name Diva Hotels and further hotel investments in Egypt and Cyprus.  Mr. Koçkar has made investments in businesses other than the tourism industry:  These include A Enerji in the energy industry; an active hydroelectric power plant (HEPP), another HEPP that is under construction, and Turkey’s largest solar power project.”

Antalya, Turkiye-based Selectum Hotels & Resorts is a subsidiary of Istanbul, Turkiye-based ATG Group Turkey [Turkiye].  

CiberCuba (excerpts)

Istanbul, Turkiye-based ATG makes five.  

The company notified the immediate termination of all its management and marketing contracts with the Republic of Cuba government-operated Grupo de Turismo Gaviota S.A., a subsidiary of Grupo de Administración Empresarial S.A. (GAESA) which is a subsidiary of the Revolutionary Armed Forces of the Republic of Cuba (FAR).

The decision was reported through an official statement published on Facebook by Selectum Family Resort Varadero and in an internal letter addressed to sales agents and tour operators, exclusively revealed by Reportur.

“Through this letter, the ATG chain, in its capacity as Manager, formally notifies you of the immediate termination of all Administration and Marketing Contracts for the hotel owned by Grupo de Turismo Gaviota, S.A., managed by our entity under the brand and name Selectum Family Resort Varadero.  As a result, starting June 4, 2026, the Hotel Room Reservation contracts signed by the ATG chain for the upcoming seasons will be terminated and will no longer be in effect…. Although it has been a short cycle, it has proved to be an extremely productive and successful stage, achieving an exceptional position for Selectum Family Resort Varadero thanks to the support and trust placed in our team.”

ATG Hotels is a hotel group based in Turkey [Turkiye], owned by the tour operator Anex Tour, with a presence in more than seventy-two countries.  In the Republic of Cuba, ATG Hotels managed Selectum Family Resort Varadero and Selectum Family Resort Santa María in Cayo Santa María, Villa Clara, since 2023.  In August 2024, ATG Hotels managed 147-room Hotel Corona in Havana.

Link To Related Analysis

Turkiye's ATG (Affiliated With ATG Global In New Albany, Ohio) Reported To Manage Hotel Corona In Cuba. Company Not Confirming. August 29, 2024

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

Netherlands-Based Nirint Shipping Reportedly Joins Two EU-Based Shipping Companies In Suspending Cuba Operations.

Container Management
Schindellegi, Switzerland
22 June 2026


“Barendrecht, Netherlands-based Nirint Shipping B.V. has removed Halifax from the northbound leg of its Europe–Cuba–Canada multipurpose service, consolidating the route to a purely Europe–Cuba loop. The revised rotation now runs Villagarcia–Bilbao–Rotterdam–Mariel–Moa–Villagarcia, according to DynaLiners. The approximately fortnightly service is operated by vessels of 12,000–17,000 deadweight tonnes with capacities of 680–900 teu. The removal of Halifax ends the service's Canadian component entirely, reducing port calls from what had been a transatlantic triangulation to a six-port Europe–Cuba circuit. Nirint's Cuba service is one of a small number of direct European liner links to the island, connecting the Spanish ports of Villagarcia and Bilbao alongside Rotterdam to the Cuban ports of Mariel and Moa.”

NOTE: As of 26 June 2026, Republic of Cuba-related references and Republic of Cuba-related schedules remain available on the Internet site of the company.  Link To Schedule

14 May 2026: Hamburg, Germany-based Hapag-Lloyd AG (2025 revenue US$21 billion) and Marseille, France-based CMA CGM (2025 revenue US$55 billion), issued a STOP BOOKING for origins and destinations of their regular services to and from the Republic of Cuba.” 

Link To Related Analysis

Two EU-Based Shipping Companies Suspend Cuba Operations.  One Settled Libertad Act Lawsuit And The Other Owns Florida International Terminal In Port Everglades. Will EU Do Anything? May 16, 2026 

MSC Of Switzerland Is 42nd Company Sued Using Libertad Act. Same Plaintiffs Sued Four Other Shipping Companies For Use Of Port Mariel In Cuba September 24, 2021 

European Union Member France's CMA CGM S.A. Is 41st Company Sued Using Libertad Act- Shipping To Cuba Through Jamaica And Using Port Mariel August 03, 2021 

Will Israel Shipping Company About To IPO In U.S. Become 33rd Libertad Act Lawsuit? Project For Jared Kushner? January 06, 2021

Canada's Sherritt Questions "ability to continue" While OFAC Considers U.S. Company License Application To Save Company, Invest In Cuba, Settle A Certified Claim, Export Nickel And Cobalt To U.S.

"The imposition of tariffs by the U.S. on countries that provide oil to Cuba and the imposition of expanded sanctions against Cuba contributed to a material uncertainty which may cast significant doubt about the Corporation’s ability to continue as a going concern, as disclosed in note 2."

"The Corporation discloses further information regarding the material uncertainty regarding the Corporation’s ability to continue as a going concern and its application of significant judgment in the assessment of the Corporation’s ability to continue as a going concern in the critical accounting judgments section of this MD&A."

"Assessing the ability of the Corporation to continue as a going concern requires judgment that includes considering whether conditions or events, including those at any of its investees, joint operations and subsidiaries, impact the going concern assumption. In conducting this assessment, management identified adverse events impacting the Moa Joint Venture and the Energas S.A. joint operation, as well as environment rehabilitation expenditures for its legacy Spanish Oil and Gas operations, and an event regarding compliance with, ongoing accessibility to and ability to repay its revolving-term credit facility (“Credit Facility”). The aforementioned adverse events impact both production and liquidity and result in significant obligations that will require repayment or refinancing. Consequently, the Corporation is required to evaluate the impact of these adverse events on its ability to continue as a going concern."

"The uncertainties related to the matters described above result in material uncertainty which may cast significant doubt about the Corporation’s ability to continue as a going concern. If the Corporation is unable to meet its obligations when due or comply with the terms of its debt agreements, the assumption of preparing these consolidated financial statements on a going concern basis may no longer be appropriate. These condensed consolidated financial statements for the three months ended March 31, 2026 do not reflect any adjustments to the carrying values of assets and liabilities and the reported expenses and statement of financial position classifications that would be necessary should the going concern assumption be inappropriate, and such adjustments could be material."

25 June 2026: TORONTO – Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today announced that it has filed its unaudited interim financial statements, management’s discussion and analysis and related officer certifications for the three months ended March 31, 2026 (collectively, the “Q1 2026 Filings”). The Q1 2026 Filings are available on SEDAR+ at www.sedarplus.ca.

LINK To Q1 Report In PDF Format

As previously disclosed, the Ontario Securities Commission (the “OSC”), as principal regulator, issued a cease trade order (the “CTO”) on May 21, 2026 as a result of the Corporation’s failure to file the Q1 2026 Filings by the filing deadline of May 15, 2026. The Corporation was delayed in filing as a result of operational and governance disruptions following the U.S. administration’s May 1, 2026 Executive Order expanding sanctions against Cuba.

The resumption of trading in Sherritt’s shares remains subject to regulatory and stock exchange approval. Sherritt will continue to provide timely public disclosure as circumstances develop.

About Sherritt

Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.

Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.

Forward-Looking Statements

Certain statements and other information included in this press release may constitute “forward -looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (such statements are often accompanied by words such as “anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words).

All statements in this press release, other than those relating to historical information, are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the anticipated revocation of the CTO and the Corporation’s ability to satisfy any applicable requirements in connection with the foregoing.

The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Such factors include, without limitation, continued risks related to Sherritt’s operations in Cuba and future actions taken by the U.S. government toward Cuba, including with respect to the Executive Order; level of liquidity of Sherritt, including access to capital and financing; the risk to or loss of Sherritt’s entitlements to future distributions (including pursuant to the Cobalt Swap) from the Moa JV; the inability of the Corporation to comply with debt restrictions and covenants; the inability of the Corporation to comply with the listing requirements of the Toronto Stock Exchange or another recognized stock exchange; uncertainty in the ability of the Corporation to enforce legal rights in foreign jurisdictions; uncertainty regarding the interpretation and/or application of the applicable laws in foreign jurisdictions; tax risks; political, economic and other risks of foreign operations; security market fluctuations and price volatility; risks related to environmental liabilities including liability for reclamation costs, tailings facility failures and toxic gas releases; compliance with applicable environment, health and safety legislation and other associated matters; risks associated with governmental regulations regarding climate change and greenhouse gas emissions; risks relating to community relations; maintaining social license to grow and operate; risks associated with the operation of large projects generally; the ability to replace depleted mineral reserves; risks associated with the Corporation’s joint venture partners; risks associated with mining, processing and refining activities; reliance on key personnel and skilled workers; risks related to the Corporation’s corporate structure; foreign exchange and pricing risks; credit risks; future market access; interest rate changes; risks in obtaining insurance; uncertainties in labour relations; legal contingencies; risks related to the Corporation’s accounting policies; uncertainty in the ability of the Corporation to obtain government permits; failure to comply with, or changes to, applicable government regulations. The key risks and uncertainties should be considered in conjunction with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the “Managing Risk” section of the Management’s Discussion and Analysis for the three months and year ended December 31, 2025 and the Annual Information Form of the Corporation dated March 23, 2026 for the period ending December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca. The forward-looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

Link To Related Analyses

120-Day Cuba Countdown Clock. Will Trump Administration Approve U.S. Company's Takeover Of Canada's Sherritt International Corporation? June 23, 2026

U.S. Control For Canada's Sherritt And Cuba's Nickel/Cobalt? Ray Washburne, First Trump Administration OPIC President & CEO And Current Chairman Of Sunoco LLC Making An Offer? May 20, 2026

Due To Trump Administration Cuba-Related Executive Orders And SDN List Additions, Canada's Sherritt International Corporation May Sell 55% To U.S. Company May 20, 2026

Trump Administration Policies Impact Another Cuba Export: Cigar Distributor Adding Transportation Surcharge Due To Ocean/Air Cargo Disruptions

"Phoenicia TAA Cyprus LTD is a renowned leading cigar distributor worldwide, established in 1999 as part of the Phoenicia group of companies. Headquartered in Limassol, Cyprus, the company has established a strong distribution network spanning more than 56 countries across Eurasia, Sub-Saharan Africa, The Gulf, the Middle East, Cyprus, Greece and Egypt. Furthermore, one of its subsidiaries is dedicated to distributing Imperial Tobacco and BAT products within the market of Cyprus.  Phoenicia is well-known for providing high-quality products and services, thanks to its team of experienced professionals and its unwavering commitment to maintaining the highest standards of quality, reliability, and product range. The company prides itself on catering to the unique tastes and needs of aficionados across its vast distribution network.  At the core of Phoenicia’s values is its dedication to both its markets and customers. This dedication is reflected in the company’s long-standing relationships with its customers and its continued efforts to exceed their expectations."

Halfwheel
Dallas, Texas
25 June 2026

One of the largest distributors of Cuban cigars in the world has announced it is adding a new surcharge for all orders.

On June 23, Phoenicia T.A.A. Cyprus Ltd.—the distributor of Cuban cigars for more than 50 countries throughout Africa, Europe and the Middle East—began adding a 6.5 percent surcharge to all “offers and orders” of Cuban cigars in lieu of raising prices on individual products. The company says that because of massive declines in sea cargo to and from Cuba, it has had to switch from using sea freight to air freight, which has resulted in higher prices.

“However, this option presents significant constraints, including limited flight availability and substantially higher transportation costs, which can reach more than 15 percent of the value of the imported cigars,” reads the email. “Given these exceptional circumstances, we find it necessary to pass on a portion of these additional costs.”

The situation in Cuba has been getting progressively worse since January, when the American government ramped up pressure on the Cuban government by going after its oil suppliers. Since then, most commercial airlines have cut back on services, and the number of ships leaving the island has been severely impacted.

According to the email, the surcharge is a temporary measure and will be removed “once conditions improve and sea freight services to Cuba resume.”

Phoenicia is best known as the distributor of Cuban cigars in the Middle East, though it also handles the importation and distribution for Habanos S.A. products in Cyprus, Greece, Malta, Ukraine, Turkey and all of Africa except for Algeria, Morocco and South Africa.

Paris Club Of Creditor Nations Reports Cuba Owes US$4.9497 Billion As Of 31 December 2025

2025 Paris Club of Creditor Nations Report

AS OF 31 DECEMBER 2025, EXCLUDING LATE INTEREST (IN U.S. Dollars)
ODA: Official Development Assistance
NODA: Non-Official Development Assistance

DEBTOR COUNTRY- Republic of Cuba

ODA- US$300.8 Million

NODA- US$4.9497 Billion

TOTAL- US$4.7955 Billion

LINK TO COMPLETE PARIS CLUB REPORT IN PDF FORMAT

Links To Related Analyses 

Paris Club Of Creditor Nations Reported To Propose New Repayment Schedule For Cuba Which Has Not Maintained A Previous 76% Write-Off From 2015. August 31, 2023 

Japan Delivering Buses To Cuba Through "Non-Reimbursable Financial Aid" While Cuba Continues To Owe Japan Approximately US$1 billion January 13, 2022 

Moody's Investors Service Downgrades Cuba Rating From Ca To Caa2, Returning To Same Rating Of November 2020, November 2019, November 2018, November 2017, November 2016 November 20, 2021 

Cuba Reported To Owe More Than US$2.1 Billion To Spain- And Expectation The Amount Will Increase In 2021, 2022, 2023. Cuba Companies Reported Seeking 365 Days To Pay Invoices. October 26, 2021 

Cuba Reported In New Agreement With Paris Club "Group Of Creditors Of Cuba" To Restructure Defaulted Payment Terms. Previously Forgave 75% Of Debt. Officials Expect Further Defaults. October 21, 2021 

Paris Club Offers Cuba One-Year Moratorium; Cuba Wants Two-Years And Much More June 20, 2020 

Cuba Defaulting On Paris Club Agreements, Seeking Again More Time; Trump Administration Message To Members: "Negotiate Like Donald Trump, Not Like EU" May 22, 2020

OFAC Adds Cuba Government Companies To SDN List Including In United Kingdom

ALMACENES UNIVERSALES S.A., Fabrica No. 54 e/ Aspuru y Linea del Ferrocarril, Habana Vieja, Havana, Cuba; Organization Established Date 28 Jan 1994; Organization Type: Cargo handling; Tax ID No. 11.791.301/0001-05 (Brazil); Entity Code 60297 (Cuba) [CUBA-EO14404] (Linked To: GRUPO DE ADMINISTRACION EMPRESARIAL S.A.). 

BANCO FINANCIERO INTERNACIONAL S.A. (a.k.a. "BFI"), 5ta Ave. No. 9009 esq. 92, Playa, Havana, Cuba; SWIFT/BIC BFICCUHH; Organization Established Date 13 Oct 1984; Target Type Financial Institution; alt. Target Type State-Owned Enterprise; Entity Code 60210 (Cuba) [CUBA-EO14404]. 

CUBAN TRADING UK LTD, London, United Kingdom; Organization Established Date 05 Feb 2025; Organization Type: Wholesale of food, beverages and tobacco; Company Number 16229981 (United Kingdom) [TCO] (Linked To: KONG, Ka On). 

EMPRESA SIDERURGICA JOSE MARTI (a.k.a. ANTILLANA DE ACERO), Calle 20 No 10522, Cotorro, Havana, Cuba; Organization Established Date 04 May 1958; Organization Type: Manufacture of basic iron and steel; Entity Code 1101 (Cuba) [CUBA-EO14404]. 

GEOMINERA, S.A., Calzada de Guines S/N E/ Virgen del Camino y Calle Linea del Ferrocarril, RPTO Los Angeles, Havana, Cuba; Organization Established Date 01 Jan 1998; Organization Type: Extraction of salt; Entity Code 60274 (Cuba) [CUBA-EO14404]. 

RAFIN S.A., Ave. Del Puerto Esq. A Obrapia, Edif. La Marina, La Habana Vieja, Havana, Cuba; Organization Established Date 28 Feb 1999; Organization Type: Management consultancy activities; Entity Code 60448 (Cuba) [CUBA-EO14404]. 

Trump Administration Adds To Castro-Related And Cuba Commercial Python: "Further Sanctions on the Cuban Regime’s Revenue Generation Network"

United States Department of State
Washington DC
23 June 2026

Today, the Department of State is designating five entities and one individual to further the Trump Administration’s comprehensive push to end the Cuban regime’s malign activities, both in Cuba and across our hemisphere.

All Department of State targets sanctioned today have been designated pursuant to Executive Order (E.O.) 14404, which authorizes sanctions on persons determined to meet specified criteria related to repression in Cuba and other threats to U.S. national security and foreign policy.  

Entities Affiliated with the Previously Designated Grupo de Administración Empresarial S.A. (GAESA)

The following entities associated with Cuba’s GAESA are being designated to further restrict the regime’s ability to move both money and materials at the cost of U.S. national security and the well-being of the Cuban public:

ALMACENES UNIVERSALES S.A. (AUSA) is designated pursuant to Sec. 2(a)(i)(B) of E.O. 14404 for being owned, controlled, or directed by, or to have acted or purported to act for or on behalf of, directly or indirectly, the Government of Cuba or any person whose property or interests in property are blocked pursuant to this order. AUSA, a subsidiary of GAESA, is a Cuban logistics and warehousing company specializing in storage, handling, and transportation services, including port-related activities. AUSA controls container traffic at the Port of Mariel Special Development Zone. GAESA was designated under E.O. 14404 on May 7, 2026.

RAFIN S.A. (RAFIN) is designated pursuant to Sec. 2(a)(i)(A) of E.O. 14404 for operating in or having operated in the financial services sector of the Cuban economy. RAFIN operates as a key financial management component of the GAESA conglomerate.

BANCO FINANCIERO INTERNACIONAL S.A. (BFI) is designated pursuant to Sec. 2(a)(i)(A) of E.O. 14404 for operating in or having operated in the financial services sector of the Cuban economy. BFI is a commercial banking institution absorbed by GAESA in 2016 that handles the vast majority of transactions involving foreign entities transacting in and out of Cuba.

Entities Involved in Exploiting Cuba’s Metals and Mining Sector

The following entities are designated pursuant to Sec. 2(a)(i)(A) of E.O. 14404 for operating in or having operated in the metals and mining sector of the Cuban economy:

GEOMINERA, S.A., which is a state-owned enterprise under the jurisdiction of the Cuban government’s Ministry of Energy and Mines that leverages foreign investment from Australian-based Antilles Gold and other companies to manage Cuba’s non-nickel metallic mineral assets. GEOMINERA, S.A. manages Minera La Victoria S.A., which was designated pursuant to E.O. 14404 on June 4, 2026.

EMPRESA SIDERURGICA JOSE MARTI (Antillana de Acero), which is Cuba’s largest raw steel producer, and recently underwent a modernization and expansion in collaboration with Russian entities.

Continued Designations of Cuban Regime Officials and their Networks

To continue restricting the ability of the Cuban regime-aligned elites to benefit while everyday people suffer, ANNALIE LILLIAM RUEDA CARDERO is designated pursuant to Section 2(a)(i)(I) of E.O. 14404 for being an adult family member of ALEJANDRO CASTRO ESPIN, who was designated pursuant to E.O. 14404 on June 4, 2026. ALEJANDRO CASTRO ESPIN is the former head of the Cuban intelligence services and the son of Raul Modesto Castro Ruz.

SANCTIONS IMPLICATIONS

As a result of today’s sanctions-related actions, and in accordance with Executive Order (E.O.) 14404 of May 1, 2026, “Imposing Sanctions on Those Responsible for Repression in Cuba and for Threats to U.S. National Security and Foreign Policy,” all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the Department of the Treasury’s Office of Foreign Assets Control (OFAC).  Additionally, all entities that are owned individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.

All transactions and dealings by U.S. persons or persons within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt.  These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.  Foreign persons that engage in transactions with persons designated pursuant to E.O. 14404—or that operate in the energy, defense and related materiel, metals and mining, financial services, or security sector of the Cuban economy, as identified in E.O. 14404—are themselves at risk of sanctions. Non-U.S. persons, including foreign financial institutions, should proceed with caution in any dealings with a party sanctioned under this authority.  Actions to return assets to a sanctioned party or transfer them to another jurisdiction for potential use by the target could expose non-U.S. persons to significant sanctions risk.  All property and interests in property of persons that are blocked pursuant to the Cuban Assets Control Regulations (CACR) continue to be blocked. The CACR prohibits persons subject to U.S. jurisdiction from dealing in property in which Cuba or a Cuban national has an interest, unless authorized or exempt.

The power and integrity of U.S. government sanctions derive not only from the U.S. government’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.  

Petitions for removal from the SDN List may be sent to: OFAC.Reconsideration@treasury.gov.  Petitioners may also refer to the Department of State’s Delisting Guidance page. 

Exxon Prevails At U.S. Supreme Court Against Cuba Government Companies. "We conclude that the Helms-Burton Act itself abrogates the sovereign immunity of Cuban agencies and instrumentalities"

CERTIORARI TO THE UNITED STATES COURT OF APPEALS FOR THE DISTRICT OF COLUMBIA CIRCUIT

No. 24–699. Argued February 23, 2026—Decided June 23, 2026

In 1960, after Fidel Castro seized power in Cuba, the Cuban Government confiscated many foreign-owned assets, including Exxon’s oil refinery,

terminals, packaging plants, and more than a hundred service stations. Since then, two Cuban government-owned companies—Unión Cuba-Petróleo (CUPET) and Corporación CIMEX, S. A. (Cuba) (CIMEX)—have operated and profited from Exxon’s expropriated assets. Exxon had no good way to sue the Cuban government entities and seek compensation for its confiscated property until Congress passed and President Clinton signed the Helms-Burton Act in 1996. 

As relevant here, the Act created a private right of action for U. S. nationals whose property was confiscated by the Cuban Government against “any person that . . . traffics in” the confiscated property, 22 U. S. C. §6082(a)(1)(A), with “person” defined to include “any agency or instrumentality of a foreign state,” §6023(11). Exxon sued CUPET, CIMEX, and later CIMEX’s Panamanian alter ego under the Helms-Burton Act in the U. S. District Court for the District of Columbia, seeking more than $1 billion in damages. The Cuban government-owned companies moved to dismiss, asserting immunity under the generally applicable Foreign Sovereign Immunities Act (FSIA). Exxon countered that the Helms-Burton Act itself waived the defendants’ sovereign immunity. The District Court sided with the Cuban government defendants, and a divided panel of the U. S. Court of Appeals for the D. C. Circuit affirmed. 111 F. 4th 12, 23.

JUSTICE KAVANAUGH delivered the opinion of the Court.  In 1960, a year after assuming power in Cuba, Fidel Castro declared that the new Communist government would seize all “Yankee property” in Cuba. Castro made good on that promise. The Cuban Government confiscated a variety of American businesses then operating in Cuba, including Exxon’s oil refinery and service stations. Cuba transferred Exxon’s property to Cuban government-owned companies. In 1996, to afford victims of “Castro’s wrongful seizures” a “judicial remedy in the courts of the United States,”

Congress passed and President Clinton signed the Helms-Burton Act, formally known as the Cuban Liberty and Democratic Solidarity Act. §301, 110 Stat. 815, 22 U. S. C. §6081. That Act created a private right of action for U. S. nationals whose property was unlawfully confiscated: They may sue Cuban agencies and instrumentalities that possess, use, or otherwise traffic in the confiscated property.

Foreign sovereigns, including their agencies and instrumentalities, are presumptively immune from suit in U. S. courts. The question here is whether the Helms-Burton Act abrogates the foreign sovereign immunity of Cuban agencies and instrumentalities—or whether plaintiffs such as Exxon suing under the Act must also satisfy one of the exceptions to immunity in the generally applicable Foreign Sovereign Immunities Act of 1976, or FSIA. 90 Stat. 2891, 28 U. S. C. §§1330, 1602 et seq.

We conclude that the Helms-Burton Act itself abrogates the sovereign immunity of Cuban agencies and instrumentalities. Therefore, plaintiffs who sue Cuban agencies or instrumentalities under the Act are not required to also satisfy an FSIA exception.

LINK To Complete Decision In PDF Format

120-Day Cuba Countdown Clock. Will Trump Administration Approve U.S. Company's Takeover Of Canada's Sherritt International Corporation?

15 June 2026: TORONTO – Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) is providing an update on the non-binding term sheet (the “Term Sheet”) entered into with Gillon Capital, LLC (“Gillon Capital”) regarding a proposed private placement (the “Private Placement”), as previously disclosed in the Corporation’s news release dated May 20, 2026.

In connection with the Term Sheet, the Corporation has entered into an exclusivity agreement with Gillon Capital providing for a 120-day period of exclusive negotiations with respect to the Private Placement. The period of exclusivity was entered into to allow the parties to complete their respective due diligence reviews and negotiate a definitive agreement with respect to the Private Placement.

Since the announcement of the Term Sheet, the parties have each engaged financial, legal and other advisors and are working collaboratively to navigate the legal, regulatory and commercial complexities identified through the due diligence process to date, including matters arising from the Corporation’s operations in Cuba and the U.S. regulatory and sanctions environment. The parties continue to engage constructively with relevant governmental and regulatory authorities, as well as other stakeholders, in furtherance of these matters.

The Private Placement remains subject to the execution of definitive documentation, satisfaction of customary conditions, the approval of the U.S. Department of the Treasury’s Office of Foreign Assets Control, and the receipt of all required regulatory approvals, including the approval of the Toronto Stock Exchange. There can be no assurance that these complexities will be resolved on terms satisfactory to both parties or at all, or that the Private Placement will be completed, or completed on the terms previously described, or completed in a timely manner.

Board of Directors Update

The board of directors of the Corporation (the “Board”) is actively engaged in a process to recruit additional qualified candidates for appointment as independent directors. The Corporation is pleased to announce the appointment of Tabrez Khan as an independent director effective June 12, 2026, bringing deep M&A, financial and strategic advisory experience to the Board. Tabrez Khan was nominated to the Board by Kyma Capital Opportunities Master Fund Limited (“Kyma”), pursuant to Kyma’s nomination right under the investor rights agreement dated as of April 22, 2025 between the Corporation and Kyma.

Tabrez Khan is an accomplished resource sector leader with more than 20 years of experience in global transactions and strategic advisory bringing significant experience advising public and private companies, financial institutions and government stakeholders on large-scale transactions, restructurings and strategic initiatives. He is a Partner and co-founder of GENesis Capital Advisory, where he advises clients, including critical minerals and energy companies on strategy, M&A and financing, with a strong track record of originating and executing complex cross border transactions. He previously spent over two decades with Ernst & Young, where he held senior leadership roles in leading origination of transactions and advising on strategic initiatives for resource sector clients. He is a Chartered Accountant and holds a Global Executive MBA from INSEAD.

Concurrent with Tabrez Khan’s appointment to the Board, he was appointed to the audit committee of the Board (the “Audit Committee”). Following Tabrez Khan’s appointment, the Audit Committee consists of Dr. Peter Hancock, Chih-Ting Lo, and Tabrez Khan. As Dr. Peter Hancock is the interim Chief Executive Officer of Sherritt, he is not considered independent under National Instrument 52-110 – Audit Committees (“NI 52-110”). Sherritt is relying on the temporary exemption provided in Section 3.5 of NI 52-110 for Dr. Peter Hancock’s membership on the Audit Committee. Following Tabrez Khan’s appointment, the Audit Committee is compliant with the requirements of NI 52-110 and the rules of the Toronto Stock Exchange.

As previously announced, the Corporation is currently subject to a failure-to-file cease trade order, effective May 21, 2026, as a result of the Corporation’s failure to file its first quarter 2026 interim financial statements, management’s discussion and analysis and related officer certifications (the “Quarterly Documents”). The Corporation anticipates filing the Quarterly Documents in the coming weeks. The resumption of trading in Sherritt’s shares is subject to regulatory and stock exchange approval. Sherritt will continue to provide timely public disclosure as circumstances develop.

About Sherritt

Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.

Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.

Forward-Looking Statements

Certain statements and other information included in this press release may constitute “forward -looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (such statements are often accompanied by words such as “anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words).

All statements in this press release, other than those relating to historical information, are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the Private Placement, including the completion and timing thereof, the terms on which it may be completed and the receipt of all required approvals; the ability of the parties to complete their respective due diligence reviews and negotiate a definitive agreement during the period of exclusivity; the ability of the parties to resolve the legal, regulatory and commercial complexities identified through due diligence; the ongoing engagement with relevant governmental and regulatory authorities and other stakeholders in furtherance of the regulatory approvals and other matters required to complete the Private Placement; the board of directors’ process to identify and recruit additional qualified candidates for appointment as independent directors; and the anticipated timing of filing the Quarterly Documents.

The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Such factors include, without limitation, continued risks related to Sherritt’s operations in Cuba and future actions taken by the U.S. government toward Cuba, including with respect to the Executive Order; level of liquidity of Sherritt, including access to capital and financing; the risk to or loss of Sherritt’s entitlements to future distributions (including pursuant to the Cobalt Swap) from the Moa JV; the inability of the Corporation to comply with debt restrictions and covenants; the inability of the Corporation to comply with the listing requirements of the Toronto Stock Exchange or another recognized stock exchange; uncertainty in the ability of the Corporation to enforce legal rights in foreign jurisdictions; uncertainty regarding the interpretation and/or application of the applicable laws in foreign jurisdictions; tax risks; political, economic and other risks of foreign operations; security market fluctuations and price volatility; risks related to environmental liabilities including liability for reclamation costs, tailings facility failures and toxic gas releases; compliance with applicable environment, health and safety legislation and other associated matters; risks associated with governmental regulations regarding climate change and greenhouse gas emissions; risks relating to community relations; maintaining social license to grow and operate; risks associated with the operation of large projects generally; the ability to replace depleted mineral reserves; risks associated with the Corporation’s joint venture partners; risks associated with mining, processing and refining activities; reliance on key personnel and skilled workers; risks related to the Corporation’s corporate structure; foreign exchange and pricing risks; credit risks; future market access; interest rate changes; risks in obtaining insurance; uncertainties in labour relations; legal contingencies; risks related to the Corporation’s accounting policies; uncertainty in the ability of the Corporation to obtain government permits; failure to comply with, or changes to, applicable government regulations. The key risks and uncertainties should be considered in conjunction with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the “Managing Risk” section of the Management’s Discussion and Analysis for the three months and year ended December 31, 2025 and the Annual Information Form of the Corporation dated March 23, 2026 for the period ending December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca. The forward-looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

Link To Related Analyses

U.S. Control For Canada's Sherritt And Cuba's Nickel/Cobalt? Ray Washburne, First Trump Administration OPIC President & CEO And Current Chairman Of Sunoco LLC Making An Offer? May 20, 2026

Due To Trump Administration Cuba-Related Executive Orders And SDN List Additions, Canada's Sherritt International Corporation May Sell 55% To U.S. Company May 20, 2026

Canada's Sherritt International Corporation Update On Operations At Refinery As Trump Administration Executive Orders Continue To Impact Company

22 June 2026: TORONTO – Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today announced that operations at its refinery in Fort Saskatchewan, Alberta are transitioning to a shutdown state. Such transition aligns with the Corporation’s previously disclosed expectations, which contemplated refinery operations continuing until approximately mid-June based on available feed inventory.

The shutdown is being carried out in a controlled and orderly manner, with safety and environmental considerations remaining the Corporation’s primary priorities. Sherritt has implemented shutdown procedures designed to protect employees, contractors, the surrounding community and the environment, and will retain the personnel and resources required to maintain the refinery in a safe and secure state during the shutdown period.

The shutdown will continue until mining and processing activities at Moa, Cuba resume and the refinery feed pipeline is rebuilt. At this time, the Corporation is unable to provide timing guidance for when that will occur. Sherritt is maintaining its suspension of direct participation in joint venture activities in Cuba as announced in its May 7, 2026 press release. Sherritt is also continuing to work on a path to resume operations at the refinery as soon as practicable and is taking measures to preserve liquidity, manage costs and maintain operational readiness during the shutdown period. During the downtime, the Corporation will complete necessary maintenance activities that do not require significant capital investment. The Corporation continues to produce fertilizers and sulphuric acid for resale.

About Sherritt

Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Leveraging its technical expertise and decades of experience in critical minerals processing, Sherritt is committed to expanding domestic refining capacity and reducing reliance on foreign sources. The Corporation operates a strategically important refinery in Alberta, Canada, recognized as the only significant cobalt refinery and one of just three nickel refineries in North America.

Sherritt’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.

Forward-Looking Statements

Certain statements and other information included in this press release may constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) under applicable securities laws (such statements are often accompanied by words such as “anticipate”, “forecast”, “expect”, “believe”, “may”, “will”, “should”, “estimate”, “intend” or other similar words).

All statements in this press release, other than those relating to historical information, are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the transition to a shutdown of operations at the Corporation’s refinery in Fort Saskatchewan, Alberta; the manner in which the shutdown will be carried out; the Corporation’s ability to maintain the refinery in a safe and secure state during the shutdown period; the Corporation’s ability to rebuild a sufficient pipeline of mixed sulphide feed; the timing, prospects and conditions for resuming refinery operations; measures to preserve liquidity, manage costs and maintain operational readiness.

The Corporation cautions readers of this press release not to place undue reliance on any forward-looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements. Such factors include, without limitation, continued risks related to Sherritt’s operations in Cuba and future actions taken by the U.S. government toward Cuba, including with respect to the Executive Order; level of liquidity of Sherritt, including access to capital and financing; the risk to or loss of Sherritt’s entitlements to future distributions (including pursuant to the Cobalt Swap) from the Moa JV; the inability of the Corporation to comply with debt restrictions and covenants; the inability of the Corporation to comply with the listing requirements of the Toronto Stock Exchange or another recognized stock exchange; uncertainty in the ability of the Corporation to enforce legal rights in foreign jurisdictions; uncertainty regarding the interpretation and/or application of the applicable laws in foreign jurisdictions; tax risks; political, economic and other risks of foreign operations; security market fluctuations and price volatility; risks related to environmental liabilities including liability for reclamation costs, tailings facility failures and toxic gas releases; compliance with applicable environment, health and safety legislation and other associated matters; risks associated with governmental regulations regarding climate change and greenhouse gas emissions; risks relating to community relations; maintaining social license to grow and operate; risks associated with the operation of large projects generally; the ability to replace depleted mineral reserves; risks associated with the Corporation’s joint venture partners; risks associated with mining, processing and refining activities; reliance on key personnel and skilled workers; risks related to the Corporation’s corporate structure; foreign exchange and pricing risks; credit risks; future market access; interest rate changes; risks in obtaining insurance; uncertainties in labour relations; legal contingencies; risks related to the Corporation’s accounting policies; uncertainty in the ability of the Corporation to obtain government permits; failure to comply with, or changes to, applicable government regulations. The key risks and uncertainties should be considered in conjunction with the risk factors described in the Corporation’s other documents filed with the Canadian securities authorities, including without limitation the “Managing Risk” section of the Management’s Discussion and Analysis for the three months and year ended December 31, 2025 and the Annual Information Form of the Corporation dated March 23, 2026 for the period ending December 31, 2025, which is available on SEDAR+ at www.sedarplus.ca. The forward-looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward-looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

EU Not Updating Cuba Blocking Statute After Executive Orders By Trump Administration. Collective Weakness, Forgetfulness, Or Political Impotence?

Seven Years, Executive Orders, Lawsuits, Decisions, Settlements Have No Impact

What Is EU/EC Leadership Waiting For?

Solidarity Of Collective Weakness Or Acceptance Of Political Impotence? 

Never Recovered From Not Issuing The RFP 

The White House Thus Far Undefeated Against Berlaymont, Espace Leopold, Europa, And Louise Weiss 

Neither the leadership of the Brussels, Belgium-based European Commission (EC) nor leadership of the Brussels, Belgium-based European Council (EC) nor members of the twenty-seven country Brussels, Belgium-based European Union (EU) taken any decision to add Trump-Vance Administration (2025-2029) Executive Order 14404 to the Annex to its Blocking Statute that includes specific extraterritorial measures, including the Cuban Liberty and Democratic Solidarity Act of 1996 (known as “Libertad Act”) and Cuban Assets Control Regulations (CACR) issued by the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury. 

  • EU: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.  

Thus, there is no requirement under the EU blocking statute (Council Regulation (EC) No. 227/96) for Europe-based companies to adhere to  Article 5 of the statute and resist the Executive Order’s secondary sanctions through noncooperation in providing information (e.g. wind -down of activity in Cuba); and in noncompliance with the Order’s coerced breach of European companies’ contracts and investment agreements with Republic of Cuba government-controlled (state) enterprises such as CUPET and GAESA and their affiliates. 

From the OFAC: “As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries.  It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.  Collectively, such individuals and companies are called “Specially Designated Nationals” or “SDNs.”  Their assets are blocked, and U.S. persons are generally prohibited from dealing with them.” 

  • 12 June 2026: “The following entity has been added to OFAC's SDN List: UNION CUBA PETROLEO (a.k.a. CUPET), Avenida Salvador Allende No. 666, Entre Oquendo y Soledad, Havana 10300, Cuba; Organization Established Date 25 Mar 1992; Target Type State-Owned Enterprise; Entity Code 2605 (Cuba) [CUBA-EO14404].” 

  • 7 May 2026: “GRUPO DE ADMINISTRACION EMPRESARIAL S.A. (GAESA), pursuant to section 2(a)(i)(A) of E.O. 14404, for operating or having operated in the financial services sector of the Cuban economy,” has been added to OFAC’s SDN List. 

  • 21 December 2020: “Grupo de Administración Empresarial S.A. (GAESA) is a Cuban military-controlled umbrella enterprise with interests in the tourism, financial investment, import/export, and remittance sectors of Cuba’s economy.  GAESA’s portfolio includes businesses incorporated in Panama to bypass CACR-related restrictions,” has been added to the OFAC’s SDN List.  

In December 2019, the EU confirmed its intention to issue a Request For Proposal (RFP) to law firms in the United States to be retained to file “amicus curiae” (friend-of-the-court) motions and other motions on behalf of each Libertad Act Title III lawsuit defendant who is domiciled in the EU.  At that time, there are nine (9) EU-based companies listed as defendants or listed in lawsuits as having been contacted by plaintiff attorneys as a prelude to listing as a defendant.  The EU never issued the RFP. 

In 2019, the Trump-Pence Administration (2017-2021) made operational Title III and further implemented Title IV of the Cuban Liberty and Democratic Solidarity Act of 1996 (known as “Libertad Act”).  Link To Title III Lawsuit Filing Statistics 

  • Title III authorizes lawsuits in United States District Courts against companies and individuals who are using a certified claim or non-certified claim where the owner of the certified claim or non-certified claim has not received compensation from the Republic of Cuba or from a third-party who is using (“trafficking”) the asset.   

  • Title IV restricts entry into the United States by individuals who have connectivity to unresolved certified claims or non-certified claims.  One Canada-based company and one Spain-based company are currently known to be subject to this provision based upon a certified claim and non-certified claim. 

Link: Impacting Cuba? Booking Holdings Inc. And Booking.com B.V. Reach Settlements In Five U.S. Libertad Act Title III Lawsuits. Six Of 45 Lawsuits Filed Since 2019 Have Full Or Partial Settlements. May 15, 2024 

Link: Will G7 Discuss Cuba? Three Have Companies Impacted By Trump Administration Decisions Beginning In 2019 And Accelerating In 2026. Ten Located In EU. Probably Giving Carte Blanche. June 16, 2026  

Suspension History 

Title III was suspended every six months since the Libertad Act was enacted in 1996- by President William J. Clinton (1993-2001), President George W. Bush (2001-2009), President Barack H. Obama (2009-2017), and through the first two years of President Donald J. Trump (2017-2021).  President Joseph Biden (2021-2025) suspended again on 14 January 2025.  On 20 January 2025, President Donald J. Trump (2025-2029) reversed the suspension.   

  • On 16 January 2019, Mike Pompeo, United States Secretary of State, reported a suspension for forty-five (45) days. 

  • On 4 March 2019, Secretary Pompeo reported a suspension for thirty (30) days. 

  • On 3 April 2019, Secretary Pompeo reported a further suspension for fourteen (14) days through 1 May 2019. 

  • On 17 April 2019, the Trump Administration reported that it would no longer suspend Title III. 

  • On 2 May 2019, certified claimants and non-certified claimants were permitted to file lawsuits in United States courts. 

Link To Related Analyses 

For Cuba, 5 June 2026 Is 21st Century D-Day. President Trump Hitting G7 Members Canada, France, Germany.  And, A Particular Favorite G7 Guest, G20 Member, And NATO Member Spain June 03, 2026 

Legislation Introduced To Amend Cuba Libertad Act To Expand Who Can Sue. What Appellate Court Judge Said "despite a very clear intent, [Congress] drafts poorly. That is what I think happened here." May 22, 2026 

Unfolding Trump-Vance Administration Strategy For Cuba: Eleven Focuses. Do Not Be Shocked If President Diaz-Canel Of Cuba Visits The White House May 18, 2026 

Two EU-Based Shipping Companies Suspend Cuba Operations.  One Settled Libertad Act Lawsuit And The Other Owns Florida International Terminal In Port Everglades. Will EU Do Anything? May 16, 2026 

Libertad Act Lawsuit Against Iberostar Of Spain Returns To Circuit Court. International Comity Does Not Tolerate Inaction For Three Years. Iberostar, IHG Forge Alliance- Except Cuba Properties. March 01, 2023 

With Appeals Court Ruling In Iberostar Of Spain Libertad Act Lawsuit, Why Would Any Defendant Subject To European Union Jurisdiction Waste Their Time Seeking Guidance From European Commission? November 22, 2022 

Iberostar Files 25th Notice To Court. Judge Waiting 730 Days For European Commission To Respond. Patience Waning For Judge? Deadline Notice Likely. April 15, 2022 

Plaintiff In Iberostar Hoteles Libertad Act Lawsuit Want Judge To Move Forward; Defendant Wants Judge To Wait For EC Response March 31, 2021 

In Brussels Will U.S. Secretary Of State Blinken Discuss Cuba, Libertad Act And Venezuela With EC/EU Officials?  Will He Rebuff, Sway Or Be Swayed?  Quid Pro Quo? March 23, 2021 

UK Approves Imperial Brands To Defend Itself In Libertad Act Lawsuit; Nearing A Year, Iberostar Of Spain Awaiting Answer From EU March 19, 2021 

Plaintiffs In Libertad Act Lawsuit Against Spain's Iberostar Hotels Want Court To Move Ahead Without Waiting For EU To Respond- Nearing 12 Months March 17, 2021 

Six Months Since EU Asked By Defendant In Libertad Act Lawsuit To Provide Guidance; 2nd Defendant Asked In August. EU Responds It's "actively accessing application" Where Are EU Attorneys? October 12, 2020 

EC Now Has To Decide What It Perhaps Doesn’t Want To Decide- Iberostar Of Spain Libertad Act Lawsuit Is First To Report U.S. Court Recognizing EC’s Interest In Title III Lawsuits April 26, 2020 

Iberostar Hoteles Of Spain Sued By Former Property Owner In Cuba Using Libertad Act April 17, 2020

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

Delta Air Lines Writes Plaintiff In Cuba Libertad Act Lawsuit "fails to show how he could have acquired “possession” or “control” over the Claim by 1996"

IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF FLORIDA
CASE NO.: 25-25575-CIV-MORENO
JOSE RAMON LOPEZ REGUEIRO, Plaintiff, v. DELTA AIR LINES, INC., Defendant.


Rivero Mestre LLP (defendant)
Boies Schiller Flexner LLP (plaintiff)


11/26/25- THE ACTION
Jose Ramón López Regueiro sues defendant Delta Airlines, Inc. (“DAL”), under the Cuban Liberty and Democratic Solidarity Act, 22 U.S.C. § 6021, et seq. (the “Libertad Act”), for unlawful trafficking in his confiscated property in Cuba.

06/18/2026- ORDER granting 21 Defendant's Motion to Stay Discovery. Signed by Judge Federico A. Moreno on 6/18/2026. See attached document for full details.
06/18/2026- PAPERLESS Minute Order for proceedings held before Judge Federico A. Moreno. Signed by Judge Federico A. Moreno on 6/18/2026, Motion Hearing held on 6/18/2026 re 16 Defendant's MOTION to Dismiss with Prejudice and 21 Defendant's MOTION to Stay Discovery. Total time in court: 51 minutes. Attorney Appearance(s): Pascual Armando Oliu, Evan Matthew Ezray, Corey Patrick Gray, John Richard Byrne, Andres Rivero, Ana C Malave. Court Reporter: Gilda Pastor-Hernandez, 305-523-5118 / Gilda_Pastor-Hernandez@flsd.uscourts.gov. 
06/16/2026- Defendant's REPLY in Support of Motion re 16 MOTION to Dismiss with Prejudice 1 Complaint, . filed by Delta Airlines, Inc.. (Singer, Stuart)

DELTA AIR LINES’ REPLY IN SUPPORT OF MOTION TO DISMISS


“Plaintiff’s Opposition fails to address the central defects in the Complaint. First, he fails to show how he could have acquired “possession” or “control” over the Claim by 1996, when he was an unknown heir and a blocked Cuban national. Second, he cannot refute the certified claim showing Delta’s interest in the Airport, which Congress made both conclusive and dispositive in this suit. Third, he attempts to negate the lawful-travel exception by defining it so narrowly that no one could ever satisfy the test—even though air travel has long been the primary (and at times the only) means of lawfully reaching Cuba. Finally, he cannot square the Act’s suspension clause with longstanding separation-of-powers principles, which doom the entire Act. Any one of these reasons is a sufficient basis to dismiss with prejudice.”

Link To Motion To Dismiss In PDF Format

Link To Related Analysis

Delta Air Lines Is Defendant In Cuba Libertad Act Title III Lawsuit For Use Of Airport In Cuba May 09, 2026

How Many Times Twenty-Five Words Used In Cuba’s 176 Transformation Proposals: Tax (42), Private (26), Financial (23), Regulations (7), MSMEs (4), Socialist (3), Communist (0), United States (0) 

How Many Times Twenty-Five Words Used In Cuba’s 176 Transformation Proposals: Tax (42), Private (26), Financial (23), Regulations (7), MSMEs (4), Socialist (3), Communist (0), United States (0) 

“Economic and Social Transformations presented to Cuban Parliament” 

“The meeting includes the participation—via teleconference—of Army General Raúl Castro Ruz. Also present in the room was the First Secretary of the Central Committee of the Communist Party and President of the Republic, Miguel Díaz-Canel Bermúdez.” 

“To evaluate proposals for economic and social transformations, a topic of vital importance for the future of the country, the Third Extraordinary Session of the National Assembly of People's Power (ANPP), in its 10th Legislature, was held on June 18th.” 

“The Head of Government pointed out that the document presented includes 176 proposals for transformations, grouped into 23 fundamental axes of the economic and social life of the country.” 

America- 0
Communist- 0
United States- 0
Free- 2
Company- 3
Cubans- 3
Socialist- 3
Corporate- 4
Cuba- 4
Cuban- 4
Economic- 4
MSMEs- 4
Incorporate- 5
Decentralize- 7
Export- 7
Regulations- 7
Import- 12
Public- 14
Business- 19
Financial- 23 
Enterprise- 25
Private- 26
Bank- 34
Own- 37
Tax- 42

Link: Economic and Social Transformations presented to Cuban Parliament › Cuba › Granma - Official voice of the PCC 

Link: In English: 9,492 Words From Government Of Cuba Will Not Be Enough To Implement Changes Required For Survival, But Is A Useful Beginning June 20, 2026 

Link: In Spanish: 9,492 Words From Government Of Cuba Will Not Be Enough To Implement Changes Required For Survival, But Is A Useful Beginning June 20, 2026

constitutionet.org

In English: 9,492 Words From Government Of Cuba Will Not Be Enough To Implement Changes Required For Survival, But Is A Useful Beginning

Granma
Havana, Republic of Cuba
18 June 2026

Economic and Social Transformations presented to Cuban Parliament

The meeting includes the participation—via teleconference—of Army General Raúl Castro Ruz. Also present in the room was the First Secretary of the Central Committee of the Communist Party and President of the Republic, Miguel Díaz-Canel Bermúdez.

Link: Economic and Social Transformations presented to Cuban Parliament › Cuba › Granma - Official voice of the PCC

To evaluate proposals for economic and social transformations, a topic of vital importance for the future of the country, the Third Extraordinary Session of the National Assembly of People's Power (ANPP), in its 10th Legislature, was held on June 18th.

The meeting, taking place in its usual venue at the Convention Palace with deputies from Havana and those residing in the capital due to their responsibilities, as well as all deputies from across the country connected digitally, includes the participation—via teleconference—of Army General Raúl Castro Ruz.

Also present in the room was the First Secretary of the Central Committee of the Communist Party and President of the Republic, Miguel Díaz-Canel Bermúdez. The president of the National Assembly of People's Power and the Council of State, Esteban Lazo Hernández, commemorated Vilma Espín Guillois, heroine of the Cuban Revolution, who died on this date 19 years ago.

THE PRIME MINISTER REPORTS TRANSFORMATIONS OF STRATEGIC IMPACT IN THE CUBAN ECONOMIC AND SOCIAL MODEL

In the most complex context that the country has faced since the special period, the member of the Political Bureau and Prime Minister, Manuel Marrero Cruz, appeared before the ANPP to present transformations of strategic impact in the Cuban economic and social model, conceived as a sovereign exercise to preserve the conquests of the Revolution without renouncing socialism.

During his speech, the Head of Government contextualized the current situation: an unprecedented combination of coercive measures by the United States government, which has come to interrupt the supply of fuel and sources of foreign currency income, significantly affecting the stability of the energy infrastructure and the quality of life of the population.

He also recognized that his own errors and insufficiencies have never been denied, but he stressed that this set of factors has had a sustained impact on the implementation of the transformations approved since the 6th Congress of the Party in 2011, whose positive results were maintained until mid-2019, when the sanctions policy was intensified, reinforced at the beginning of January 2025.

In this scenario, the Party and the Government, in the legitimate exercise of their sovereignty, have promoted measures to reactivate the economy and correct distortions, a process strengthened with the approval of the Government's Economic and Social Program, validated by the people through popular consultation.

Taking popular sentiment as a direct reference, the Prime Minister announced transformations that find their first foundation in the thoughts of Commander in Chief Fidel Castro Ruz who, in 1993, in the middle of the special period, warned: "Life, reality, the dramatic situation that the world is experiencing, this unipolar world, forces us to do what otherwise we would never have done if we had had capital and if we had had the technology to do it."

Under the guiding principle of doing what is necessary to preserve what is essential, the proposed measures include expanding the participation of all economic actors on equal terms, promoting foreign investment and admitting market mechanisms as an instrument for resource allocation. These actions – he emphasized – do not constitute a surrender, but rather the sovereign adaptation of the development instruments to the specific circumstances of the country.

The Prime Minister recalled the premises of Army General Raúl Castro Ruz in leading the update of the economic and social model: not to be dogmatic or immobile, to banish the mechanical association between socialism and egalitarianism, and to recognize that socialist planning does not exclude, but must incorporate and regulate the rules of the market.

The transformations presented, which will be debated, are part of the collective effort to reactivate the economy and correct distortions, without ever giving up socialist construction, but as a condition for its preservation.

For the preparation of the transformation proposals – Marrero Cruz explained – the following were considered: the indications of the Army General and the First Secretary of the Central Committee, the Government Program 2026, the proposal to update the Conceptualization of the Economic and Social Model, as well as the Agreements of the ANEC Congress and leaders of the State and the Government of the country.

It meant that 390 proposals were received, 66.7% being accepted and the rest corresponding to the implementation process, other positive evaluations, as well as aspects that do not constitute transformations.
As a result of the analysis of the transformation proposals carried out in the Political Bureau, 69 recommendations were incorporated into the document.

The Head of Government pointed out that the document presented includes 176 proposals for transformations, grouped into 23 fundamental axes of the economic and social life of the country.

AXIS 1: TRANSFORMATIONS IN THE MANAGEMENT MODEL OF ECONOMIC ACTORS

State-Owned Socialist Enterprise

- Expand the powers of the state-owned enterprise system so that it operates with greater autonomy and under similar conditions to other economic actors. This includes carrying out any lawful activity, without abandoning its primary corporate purpose. From now on, any regulations approved for other actors will also apply to the State-Owned Socialist Enterprise.

- Decentralize the power to approve wholesale and retail prices to the state-owned enterprise system. Price setting will take into account costs, expenses, market trends, value chains, and the vertical and horizontal relationships between economic actors.

- Resize the State-Owned Enterprises (OSDEs), excluding state functions and those inherent to private companies.

- Empower the OSDEs to create state-owned enterprises and micro, small, and medium-sized enterprises (MSMEs). to companies for the creation of subsidiaries and state-owned micro, small, and medium-sized enterprises (MSMEs), and at both levels for:

*Mergers, dissolutions, liquidations, and other organizational changes, as applicable.

*State-owned business organizations (OSDEs) will be empowered to define their structures and group administrative positions or subcontract services.

- To make the approval and allocation of after-tax profits more flexible.

- To update the functions and powers of the Governing Boards to make their operation more flexible.

- To allow access to the foreign exchange market under the new conditions resulting from the implementation of the transformations, for business structures participating in supply chains.

* To eliminate the salary scale in the state-owned business system and establish a minimum wage that takes inflation levels into account:

* Salary levels, negotiated with workers and with the participation of the Union, will depend on the economic and financial capacity of the companies.

- Change the relationship between the state budget and the state-owned enterprise system, including reviewing the financial burden and eliminating subsidies to businesses.

- Empower Provincial Governments and Municipal Administrative Councils to create, merge, dissolve, and liquidate local state-owned enterprises, as well as carry out other organizational changes.

- Reduce to the bare minimum the indicators used to measure the efficiency of the state-owned enterprise system.

- Allow and encourage businesses (including private businesses) to make financial investments.

- Design financial instruments that allow for the capitalization of businesses without the participation of the state budget.

- Implement a National Program for the Valuation and Titling of State-Owned Enterprise Assets (appraisals) that:

*Conducts a national inventory of tangible and intangible assets of the state-owned enterprise system with market valuations.

*Issues enforceable ownership certificates that can serve as collateral for bank loans.

*Allow state-owned enterprises to monetize underutilized assets through long-term leasing to various economic actors and foreign investment.

- Design an efficient and competitive business system that generates revenue to support the services of social sector agencies.

- Establish procedures for bankruptcy, liquidation, and restructuring of assets with sustained losses in the state sector.

- Transform socialist state-owned enterprises into commercial companies with shares or equity interests:

*The State will define its shareholding in the sectors of the economy, guaranteeing its majority presence in strategic sectors.

*State-owned enterprises may purchase shares in other companies.
*Non-state management entities and individuals will also be able to purchase shares, according to a phased approach to be defined.

*This process will require classifying companies.

Non-state management entities

- Authorize the creation of non-agricultural micro, small, and medium-sized enterprises (MSMEs) and cooperatives pending approval on the

Economic Actors Platform.

- Reduce the requirements, procedures, and timeframes for the creation, conversion, and operation of non-state management entities, defining approval times.

- Allow the hiring of more than 100 employees. Entities with more than 100 employees will be classified as private companies.

- Allow an individual to own more than one private company.

- Expand the corporate structures under which private companies can be organized, including public limited companies.

- Allow the same individual to hold shares in more than one private company.

- Grant real rights (usufruct and surface rights) to private companies or cooperatives to enable them to make investments for the development of their productive or service activities.

- Authorize that cash foreign currency deposits from non-state actors be credited to bank accounts in the same currency, subject to a declaration of the lawful origin of the funds and withdrawal rights.

- Allow non-state management entities to develop other productive and service activities without abandoning their main activity.

- Reduce the list of prohibited activities for non-state economic actors.

- Improve the Economic Actors Platform and incorporate the use of Artificial Intelligence. Guarantee its transparency, traceability, and agility.

- Transform the institutional structure and the forms of ownership and management of the agricultural sector's productive base. Allow private companies to participate in agricultural activities.

- Develop an input market with the participation of all actors and with access to the foreign exchange market.

- Create a National Platform for Production Linkages that establishes the obligation for state-owned enterprises to publish their input and subcontracting needs, as well as the granting of tax incentives based on purchase levels from national producers.

AXIS 2: TRANSFORMATIONS IN OWNERSHIP RELATIONS. DIFFERENCES BETWEEN OWNERSHIP AND MANAGEMENT

The Head of Government indicated that, regarding the transformations in ownership relations and the differences between ownership and management, social ownership of the fundamental means of production is reaffirmed, and progress is being made toward non-state management of these means.

He added that among the new measures is the authorization for the purchase of shares and properties of state-owned enterprises by state and non-state legal entities, both national and foreign, as well as individuals, provided that the lawful origin of the funds is demonstrated.

He highlighted the creation of an Investment Program that incentivizes the participation of Cubans residing in the country and abroad in Cuban companies; in addition to recognizing the legitimate growth of the financial and material assets of legal and natural persons and guaranteeing the protection of labor and social rights without allowing indiscriminate exploitation of man by man.

AXIS 3: TRANSFORMATIONS IN THE ECONOMIC PLANNING SYSTEM

- Improve medium- and long-term planning, focusing on development design, prioritizing macroeconomic stability, reducing structural problems, and providing policy signals for all economic actors.

- Incorporate the economic, commercial, and service activities of non-state economic actors into the projections of the National Economic and Social Development Plan until 2030 and into the Provincial and Municipal Development Strategies.

- Transition to a financial planning model, where the State progressively relinquishes the physical distribution of resources, giving greater weight to market signals:

• State-owned enterprises will access inputs, foreign currency, and other resources for their production in a decentralized manner through market mechanisms.

• State orders will be executed through a contractual framework between supplying and demanding entities.

• The planning process must take into account the satisfaction of domestic market demands.

- Maintain the fundamental balances of the economy (agrifood, foreign exchange, energy, and the State budget), transforming them into instruments for diagnosing, anticipating, and correcting policies.

- Expand the limits for approving investments by decentralizing this authority to state-owned enterprises, commercial companies, or foreign investment entities, based on their financial capacity and access to resources.

AXIS 4: TRANSFORMATIONS AND RESIZING OF THE BUDGETED SECTOR

Marrero Cruz indicated that the proposals for economic transformation include a restructuring of the Central State Administration, which would involve a significant reduction in the number of ministries and budgeted agencies.

He explained that a legislative proposal is already circulating that contemplates the reorganization of state and governmental structures, with the aim of adapting them to the country's new economic conditions and making public administration more efficient.

This process, he said, would also directly impact provincial and municipal administrations, where a resizing of structures and workforces is planned.

AXIS 5: TRANSFORMATIONS IN MUNICIPAL AUTONOMY

Decentralize the following powers at the municipal level:

- Strategic planning.

- Territorial and urban planning.

- Food sovereignty and food and nutritional security.

- Community services.

- Promotion of local economic development:

• Diversify and strengthen its productive fabric, considering the participation of different economic actors, Cubans residing in the country and abroad, and including local production systems.

• Capacity to export and import, as well as generate and retain foreign currency for current and capital expenditures.

• Stimulate and manage foreign direct investment.

- Municipal administrative and human resources management.

- Local budgetary, financial, and tax management.

AXIS 6: ENERGY TRANSFORMATIONS

- Allow the participation of private and foreign capital in the import and marketing of fuels, including the retail network.

- Expand and restructure the management of the service station network, including mobile service stations:

*Require service stations managed by various economic actors to incorporate photovoltaic systems with energy storage to become independent of the National Electric System.

*Encourage the installation of solar charging stations to market electric vehicle charging services.

- Design financing lines, streamline requirements, and expand guarantees for granting loans to legal entities and individuals to incentivize the energy transition. Stimulate investment from the demand side.

- Allow state-owned enterprises to use foreign platforms to process payments for fuel purchases and sales.

- Apply a tax of up to 1% to the import of physical or financial fuel destined for operational inventories.

- Reduce the tax, by an amount equivalent to the investment made, for state and non-state economic actors who invest in renewable energy sources as part of their social responsibility in public service, social, or care centers, including public lighting.

AXIS 7: TRANSFORMATIONS TO INCENTIVIZE AGRICULTURAL RECOVERY

- Modify land management and use for all economic actors:

*Maintain the principle of land ownership by all the people.

*Grant the real right of usufruct over land to state, private, mixed, or natural legal entities that request it, for an indefinite period and for the amount of land specified in the submitted project, for all agricultural, forestry, and tobacco production, as well as for ecotourism and agritourism development projects.

*Authorize the state-owned enterprise that administers the socialist-owned land of all the people to grant usufruct rights to applicants through the corresponding contract, in compliance with current legal regulations.

*Authorize the granting of land in usufruct to Agricultural Production Cooperatives (CPA), once approved by the cooperative's General Assembly and in compliance with current legal regulations.

*Eliminate the requirement for usufructuaries to work directly and permanently on the land.

*Evaluate the definition of work collectives and propose the necessary structural transformations.

- Transform the cooperative management model:

*Authorize cooperatives to import and market fuels as inputs.

*Grant cooperatives the authority to conduct foreign trade directly, for the export of their products and the import of agricultural inputs and technologies.

*Allow cooperatives to directly manage external financing for exportable production, import substitution, and investments.

*Allow cooperatives to open bank accounts abroad and in Cuban banks, in both pesos and foreign currency.

*Make agricultural marketing more flexible. Recognize the market in price formation:

*Decentralize and empower state and non-state business entities, cooperatives, and producers to set prices for agricultural products.

*The contracting and negotiation of prices for agricultural products will be agreed upon between the producer and the buyer.

*Standardize the tax regime for all economic actors involved in the production, processing, and marketing of food.

*Create a National Price Information System for agricultural product markets, publishing reference prices on digital platforms.

*Design incentives for all economic actors to market agricultural inputs in both foreign currency and pesos and to have access to the foreign exchange market:

*Authorize all economic actors to directly market agricultural inputs and equipment in both foreign currency and pesos.

*Promote the creation of input markets in foreign currency, where domestic and foreign individuals and legal entities participate, through a simplified process.

*Approve a special tax regime for all economic actors participating in the input market, with incentives and bonuses for the import and sale of inputs in foreign currency.

*Establish banking procedures that guarantee the execution of foreign currency transactions for the sale of inputs to producers and payments to suppliers abroad, through the use of POS terminals for payments by magnetic card, bank transfer, cash, e-commerce, and other authorized payment methods.

-Increase financing for the primary production sector by expanding and decentralizing the Agricultural Development Fund and creating an Agricultural Development Bank:

*Decentralize the use of the Agricultural Development Fund to municipalities, tailored to the characteristics of their territories, upon presentation of projects that contribute to Development Strategies related to food production.

AXIS 8: SOCIAL TRANSFORMATIONS

- Digitize and make transparent the management of aid through the use of the SOBERANIA platform for real-time updates of the registry of individuals and families in vulnerable situations, thereby systematizing the different forms of assistance, their traceability, and governmental and public oversight.

- Establish that all economic actors (state and private – national and foreign), as part of their social responsibility at the community level, in the areas of finance, material resources, and services, participate directly in the following activities:

*Support pension payments through agreements with banks.

*Support the soup kitchens of the Family Support System and Community Food Centers.

*Support homes for children without parental care.

*Support nursing homes, maternity homes, senior centers, and other social centers.

*Establish differentiated pricing, discounts, free services, or solidarity quotas for people in vulnerable situations.

*Address cases of vulnerable situations identified by local governments.

*Support social and health transportation.

*Support public health institutions and educational centers.

*Contribute to community hygiene and sanitation in critical areas.

*Provide basic necessities to social institutions.

*Create monthly food baskets for vulnerable individuals and families.

*Offer employment, training, or apprenticeship opportunities to vulnerable individuals.

*Establish local emergency funds with private contributions.

*Designate private premises as collection and distribution points during emergencies.

*Support funeral services for low-income families.

*Promote fairs and community sales in vulnerable communities.

*Strengthen Social Work with a proactive and preventative approach by prioritizing its role within the municipality.

*Provide small-scale assets for the development of non-state activities to individuals experiencing multidimensional vulnerability, as a means to access employment and overcome this condition.

*Design educational, training, postgraduate, cultural, and other selected services that will serve as sources of income for the social sector.

- Design differentiated rates for childcare and daycare services based on family income.

- Design tax benefits for workshops employing people with disabilities to increase workers' income.

AXIS 9: TRANSFORMATION FROM PRODUCT SUBSIDIES TO PERSONAL SUBSIDIES

- Eliminate product subsidies and transform them into personal subsidies, implementing this in the following order:

*Products that are cross-cutting across the economy (fuels, electricity, freight and passenger transport, and water rates) that impact production and services, in order to pass on real costs to wholesale and retail prices.

*Other products.

- Create a Social Protection Fund, as a prerequisite for the transformations, using a portion of the savings from eliminating product subsidies.

AXIS 10: LABOR AND WAGE TRANSFORMATIONS

- Implement a comprehensive wage reform in the state-funded sector.

- Set the minimum wage annually and, correspondingly, the amount of social security benefits and pensions, as well as wage increases, based on inflation trends.

- Regarding the social security pension system, establish:

*The elimination of the upper limit on the scale established for social security contributions in the non-state sector.

*That individuals working simultaneously in the state and non-state sectors can enroll in and contribute to the corresponding pension schemes for each activity.

*That, of the 30 minimum years of service required by the contributory pension system, up to a maximum of 10 be considered if the person has dedicated them to family care.

-Eliminate the administrative approval requirement for technicians, healthcare professionals, researchers, teachers, professors, and public officials to hold multiple jobs.

-Establish incentives to retain the skilled workforce, with an emphasis on young people.

-Establish a monthly income equivalent to one minimum wage as a repayable stipend for young people between 18 and 30 years of age who are neither studying nor employed and who enroll in a training course. Funding will come from the social assistance budget or the business sector, as appropriate. The training period will be recognized as time of service rendered.

-Authorize employers, in agreement with the union, to negotiate reduced work schedules and corresponding payments for professional activities, which will be incorporated into the collective bargaining agreement.

- Establish for the business and budgeted sectors that employees of the entity itself may perform professional activities, construction maintenance, and similar tasks.

- Permit teleworking from abroad, at the employer's discretion.

- Include as a justified cause for suspension of social service, professional development abroad for personal reasons related to the professional profile, with the employer's consent.

- Directly empower entities to determine which employees will terminate their employment for economic, technological, and structural reasons, after evaluation by the governing body, in agreement with the union, and analysis in the assembly of members and workers:

*Workers in this situation receive monetary protection equivalent to a minimum of three and a maximum of six times the basic salary of the position they held, on a one-time basis.

- Establish protection equivalent to one month's remuneration for workers hired by self-employed workers (TCPs) in the event of temporary suspension or cancellation of their activity.

AXIS 11: TRANSFORMATIONS AND MODERNIZATION OF THE BANKING AND FINANCIAL SYSTEM

- Promote private capital participation in banking:

* Expansion of banking and non-banking financial institutions by private companies, cooperatives, and foreign investment with corporate and universal banking licenses.

* Private banks will operate under the supervision of the Central Bank of Cuba (BCC) under the same regulatory conditions as state-owned banks.

* The establishment of non-banking or non-financial support institutions for the banking sector, whether national or foreign, will be permitted for the granting of microloans.

- Eliminate restrictions on foreign currency payments between businesses with foreign capital and their national suppliers.

- Allow the opening of foreign currency accounts by legal entities and individuals without prior administrative authorization.

- Implement the regulatory framework for virtual assets and the use of financial technologies and expand their use for international and national collection and payment operations. Create financial entities for virtual assets.

- Update the interest rate system by adjusting it to current economic conditions (including sovereign bonds).

* Private banks will operate under the supervision of the BCC under equal regulatory conditions with state banks.

* The establishment of non-banking or non-financial financial institutions to support the private capital banking sector, national or foreign, will be permitted to grant microcredits.

- Implement the figure of last mile payment agent to formalize remittance flows through a private channel.

- Design other ways to capitalize banks, in addition to the resources of the State budget.

- Update the strategy with a new approach for the treatment of external debt, taking into account current conditions.

- Accelerate the automation process of banks and reduce the procedures associated with their services.

- Grant Transfermóvil a non-banking financial institution license.

- Complete the process of eliminating limits on bank transfers and withdrawals from natural and legal persons, national and foreign.

Exchange rate transformations

- Resize the official exchange and remittance market, with the participation of non-state economic actors, which includes granting licenses for private exchange house operations:

* Create a digital exchange market, in real time, with authorized agents.

* Implement a currency auction system.

- Carry out successive devaluations of the national currency to reduce exchange rate differences. Companies that do not support the devaluation will be liquidated.

* Incorporate cooperatives, diplomatic sector, state MSMEs and foreign investment that operate with non-state forms of management into segment II, guaranteeing that arbitration does not occur. State companies will compete freely for sales and in a controlled manner for purchases.

- Create state and private non-banking financial institutions that are dedicated to channeling financial flows, including remittances, through exchange operations.

- Establish single exchange windows for all economic actors that are decided.

- Expand the corporate purpose of non-banking financial institutions that offer the service for the administration of international cooperation funds.

AXIS 12: TRANSFORMATIONS OF THE TAX SYSTEM

- Improve consumption taxation, through the gradual implementation of the Value Added Tax (VAT). It will begin with certain production-consumption chains and will contemplate reduced tax rates on products in the basket of goods and services.

- Establish the electronic tax invoice with incentives that promote its assimilation by taxpayers.

- Apply a bonus to the sales and services tax based on the levels of banked sales.

- Reduce the fiscal burden of the business sector due to profits tax, with the aim of increasing its growth and investment capacities. Expand the tax base by eliminating special deductions that are not economically justified and reducing the risk of tax evasion.

* Establish a tax on gross income for companies that declare losses for more than two fiscal periods.

- Apply a reduced tax rate of the Profit Tax for the agricultural sector.

- Simplify the calculation and payment of the Profit Tax, eliminating the term of per capita profit, which implies applying the tax to CNA, CPA and UBPC partners.

- Design an accelerated depreciation regime for the acquisition of machinery, food production technologies and industrial processing, which favors the recovery of investments.

- Reduce the financial burden of entities, determined by the contribution of the return on state investment, conditioned for its use in development and capitalization.

- Apply tax incentives to state and non-state economic actors that finance investments in the social sector.

- Update the personal income tax, in accordance with the current inflationary scenario, through the following adjustments:

* Modify the progressive scale for the annual settlement and payment of the tax. Reduce the number of scales to homogenize the application of the tax.

* Increase the minimum tax-exempt threshold to the level of the country's average salary by the end of 2025.

- Reinstate the simplified tax regime for less complex activities, with an automatic adjustment system based on annual gross income levels, allowing the National Tax Administration Office to focus its oversight on larger taxpayers.

- Increase the fixed amounts of the following taxes:

* Land transportation tax based on vehicle type, value, fuel, and other factors.

* Vessel tax.

* Document tax.

* Environmental taxes.

* Fee for registering advertisements and commercial publicity.

- Design tariffs and incentives that promote domestic production processes and the import of raw materials, materials, technologies, and equipment for the use of renewable energy sources.

AXIS 13: TRANSFORMATIONS IN PRICING POLICY

- Decentralize the power to approve prices and tariffs to companies and territorial and local administrations.

- Eliminate price formation based on the cost-plus method and establish, for price formation, the market reference price or a correlation, defining its position in the value chain.

AXIS 14: TRANSFORMATIONS IN FOREIGN INVESTMENT

- Stimulate foreign investment participation in private and cooperative enterprises through the creation of joint ventures and international economic association agreements.

- Extend the limit for granting surface rights to 99 years and usufruct rights to more than 50 years for foreign investment.

- Allow businesses with foreign capital, in any form, to open bank accounts abroad without authorization. In all cases, the Central Bank of Cuba and the National Tax Administration Office must be notified.

- Allow real estate businesses to conduct sales and purchases of residential units.

- Eliminate the mandatory use of employment agencies for selecting and hiring personnel.

- Allow foreign investment to receive its income in foreign currency, operate flexibly in a partially dollarized economy, and access the foreign exchange market.

- Reduce documentation and processing times, and decentralize the approval of foreign investment, including the application of tacit approval. This will be applied to all permitting processes in the country related to issuing licenses for economic, financial, and commercial activities with a direct impact on the registry.

- Allow foreign investment in Old Havana and other heritage areas.

AXIS 15: TRANSFORMATIONS IN FOREIGN TRADE

- Promote exports of goods and services that, through the decentralization of export powers, differentiated incentives, and productive integration with foreign capital, increase the total value of exports to achieve a sustained trade surplus in goods and services.

- Apply the principle of negative nomenclature for companies engaged in foreign trade, including foreign investment.

- Allow private companies and cooperatives to directly conduct foreign trade activities, subject to prior authorization from the Ministry of Foreign Trade and Foreign Investment.

- Approve the sale of trademarks and patents by institutions in the international market, subject to prior authorization.

AXIS 16: SCOPE OF PARTIAL DOLLARIZATION OF THE ECONOMY

- Expand the scope of partial dollarization of the economy to include intercompany and commercial transactions, in accordance with the current situation.

- Modify the current conception of closed self-financing schemes in foreign currency towards a scheme of contributions from foreign currency transactions.

AXIS 17: TRANSFORMATIONS IN THE TOURISM SECTOR

- Add the following to the existing business models (joint ventures and management contracts) for all tourism activities:

* Leases.

* Granting of usufruct rights for a fee.

* Concession of areas with assets or under development in different regions of the country, and the sale of real estate (approval on a case-by-case basis).

This applies to foreign investors, Cubans residing abroad, and those residing in Cuba.

- Include certain areas of the country in the Business Opportunities Portfolio as Economic Development Zones, where special regimes are established.

- Allow the application of all business models in the keys, heritage areas of Old Havana and Trinidad, as well as in all tourist destinations in the country where these models are beneficial for the sector and foreign investment is required for their development.

- Permit real estate development in all tourist areas of the country where this type of business is needed. Establish the possibility of developing real estate businesses in areas of Havana and other urban areas of the country linked to tourism.

- Allow joint ventures and leasing for the negotiation of tourist marinas.

- Approve tax and fiscal benefits for all economic actors for ecotourism projects and other specialized tourism models in order to attract foreign investment and diversify sustainable and responsible tourism development.

- Create an online corporate bank for the tourism sector with international ties that promotes virtual asset services.

- Update the car rental activity (currently exclusive to two companies in the country) to include other state-owned enterprises, foreign investment, and non-state management models.

- Update the incorporation of travel agencies to joint ventures, 100% foreign-owned companies, as well as non-state management models.

-Authorize private tour guides and sales agents, subject to prior authorization due to the high level of specialization required for this activity.

-Approve local destination managers capable of integrating all stakeholders and ensuring the success of the mixed governance model.

-Evaluate the implementation of a special tax—which does not currently exist—or contribution from all tourists visiting a designated tourist area or resort, and allocate the revenue to the area's sustainability, maintenance, and promotion.

-Promote Cuban brand franchises abroad as a way to generate revenue, for example: Casas Cuba, Casas del Habano, La Bodeguita del Medio, El Floridita, and Tropicana.

AXIS 18: TRANSFORMATIONS IN TRANSPORT

- Eliminate the restrictions on vehicle acquisition by various economic actors and individuals, as well as the established deadlines, promoting photovoltaic electric mobility.

- Authorize the direct, non-commercial importation of a 100% electric car by individuals. Provided it is accompanied by a charging station with a fully renewable energy source, it will be exempt from taxes and duties.

- Allow the direct commercial importation of electric vehicles (mopeds, motorcycles, and tricycles) for assembly and sale by authorized state and non-state legal entities. Provided it is accompanied by a charging station with a fully renewable energy source, it will be exempt from taxes.

AXIS 19: TRANSFORMATIONS IN COMMERCE, GASTRONOMY, AND SERVICES

- Modify the policy on state administrative management of commerce, gastronomy, and services, prioritizing non-state management models and foreign investment options.

- Reorganize wholesale trade, prioritizing the creation of supply markets with direct access for individuals and legal entities. Do not place limits on the actors who carry out this activity.

- Authorize the marketing and provision of services by foreign entities based in the country, including branches and representative offices.

- Create chains of stores, restaurants, and a network of light food establishments under recognized brands or others, expanding throughout the country.

- Invite light food franchises to invest in the country.

- To tender recreational parks, zoos, aquariums, protected areas, and lodging facilities to state-owned, foreign, private, and cooperative companies, establishing the conditions for their operation, including sales percentages in pesos and foreign currency.

- To formalize street vendors in various forms within communities, issue "street vendor" permits, and implement a simplified tax system.

- To stimulate wholesale and retail public procurement, using the public procurement budget and bank loans as working capital.

- To create an automated, digital, auditable, and public system for tendering premises and assets to all economic actors.

- To transition from the regulated basic food basket to controlled sales without subsidies within the retail network.

- To authorize individuals to import goods for commercial purposes, levying tariffs in foreign currency. This does not imply granting foreign trade powers.

AXIS 20: TRANSFORMATIONS IN INSURANCE POLICY

- Recognize the profitability of the financial resources mobilized in the insurance sector.

- Create life insurance as a complement to social security protections.

- Boost the marketing of foreign currency policies for transportation, travel, and medical expense risk coverage.

- Mandate civil liability insurance for vehicle drivers.

AXIS 21: DIGITAL TRANSFORMATIONS, ARTIFICIAL INTELLIGENCE, AND THE KNOWLEDGE ECONOMY

- Establish a national framework for mandatory interoperability, data governance, artificial intelligence, and territorial equity.

- Implement a competitive remuneration system that contributes to promoting the export of professional services in digital technologies and artificial intelligence.

- Allow foreign investment in expanding Etecsa's data center capabilities.

- Allow the private sector to provide data center services that do not host the country's critical infrastructure management platforms, equipment manufacturing, and the installation of mobile and fixed networks, triple-play services, data centers, cloud services, IP telephony, and contact centers.

- Establish a digital platform using artificial intelligence for the public procurement system and bidding processes, ensuring transparency, security, and including risk classification.

- Allow for the mixed management of postal infrastructure and last-mile logistics.

- Recognize data as the fifth factor of production (along with land, labor, capital, and entrepreneurship), which implies considering it a non-renewable economic resource with the capacity to generate wealth.

AXIS 22: TRANSFORMATIONS IN THE NATIONAL STATISTICAL SYSTEM

- Design a statistical system that adjusts to economic and social transformations.

- Complete the change of the base year of the National Accounts.

- Resume the construction of the producer price and foreign trade indices, maintaining the consumer price index, together with the products derived from the observed prices.

AXIS 23: TRANSFORMATIONS IN THE CONTROL AND INSPECTION MECHANISMS

- Create a working group, due to its importance and transversality, led by the Central Committee of the PCC and integrated by the ANPP, the Attorney General's Office of the Republic, the Comptroller General's Office of the Republic, the Supreme People's Court, the Council of Ministers (DAOLPP, DSPOD and Department of Crime Prevention), the MININT and the MINJUS, in order to analyze what is established regarding control and make proposals for transformations.

Preliminarily, it was identified that the implementation of the transformations impacts more than 148 provisions of the Cuban legal system:

■ 15 regulations to be repealed.

■ 22 rules to be completely modified.

■ 79 regulations to be partially modified.

■ More than 50 lower-ranking complementary regulations (resolutions).

Additionally, it will be necessary to develop 32 new higher-ranking regulations (10 laws, 14 decree-laws and 8 decrees).

The Prime Minister of Cuba, Manuel Marrero Cruz, affirmed that the proposals for economic and social transformations are developed in correspondence with the Government Program for 2026, considering that both strategies are complementary and respond to the objective conditions of the economy and the current sociodemographic dynamics.

As explained, 76% of these transformations fully correspond to the content of the program, while the rest expands it, integrating changes in the business fabric, greater openness to national and foreign private capital, modernization of the banking system, coherence between exchange, tax and price reforms, as well as territorial decentralization and the resizing of the central administration of the State.

Marrero Cruz stressed that these transformations do not imply renouncing the social responsibility of the State, but rather they incorporate a recognition of market mechanisms as instruments for the efficient allocation of resources.

Likewise, he pointed out that among the main challenges for implementation are the definition of an operational sequence and adequate schedule, the strengthening of institutional capacities, social protection, legal legitimation and citizen participation, in addition to the mitigation of geopolitical risks.

The Prime Minister indicated that during the execution of the process there will be contradictions to be resolved, including the impact of partial dollarization on the economic evaluation, the elimination of subsidies and their relationship with prices, as well as the decentralization of powers without sufficient municipal capacity and the liberalization of agricultural prices without a proportional increase in production.

In this sense, he stated that the implementation process will be flexible, with constant review, adoption of corrective actions and a learning system aimed at managers and managers.

Marrero Cruz also highlighted that the proposals seek to confront the current economic crisis through a window of structural transformation, the failure of which could generate irreversible consequences in the political and social order.

Finally, he reiterated that these measures do not constitute a deviation from the socialist project, but rather respond to the logic of its development, in a context in which Cuba continues the construction of socialism guided by the ideas of Fidel and Raúl.

IN THE VOICE OF THE DEPUTIES

Deputy Danhiz Díaz Pereira stated that among the main feelings raised by the analysis of the document on economic and social transformations are the defense of socialism and the will to build a more developed country, with full dignity for all citizens.

He considered that the proposals constitute an opportunity to move towards a model capable of guaranteeing quality education, better universities, better salaries for teachers and workers, as well as universal health with better institutions and availability of medicines.

Among his proposals, he proposed that in transformation 63, referring to the Sovereignty platform project, it be specified that it constitutes an additional way for the identification of vulnerable people and not the only one, taking into account that the Ministry of Labor and Social Security has other mechanisms for that purpose.

He positively valued the recognition of the social contribution that companies can make and considered that there should be a single business system in Cuba. He also suggested including people who perform care functions among the beneficiaries of employment, training and learning opportunities.

He also proposed that specific crises, which do not necessarily constitute emergency situations, be incorporated into the provisions on the authorization of private spaces as collection and distribution points.

Díaz Pereira commented, in relation to the creation of a social protection fund and the implementation of a comprehensive salary reform, that they are priorities that must be materialized before carrying out other transformations to avoid further impacts on the population.

Regarding the elimination of administrative prohibitions for the exercise of employment by professors and doctors, he suggested specifying the concept of civil servant for a better understanding of its scope.

He highlighted that more than 10 measures in the document explicitly include youth, in coherence with the policy approved for this sector.

Among the proposed complementary actions, he suggested creating a communication channel, possibly supported by artificial intelligence, to allow the public to clarify doubts about the transformations; reviewing personnel policy procedures to enhance the presence of top leaders in municipalities; and calling on the Ministries of Education and Higher Education to adapt curricula and programs of study to the new realities.

He also proposed completing a single, centralized, and digital national employment registry to facilitate the management of labor information.

The deputy emphasized the need to strengthen the management capacities of municipalities and pointed to positive experiences in Havana, where ministers and deputy ministers have directly supported local authorities in transferring management skills and competencies.

He expressed concern about the risks of corruption and influence peddling associated with the new measures, although he affirmed that the transformations should not be feared, but rather that control mechanisms and social protections should be strengthened. In this regard, he underscored the importance of preserving labor rights and continuing to improve existing guarantees.

Finally, he emphasized that communicating the transformations is a shared responsibility and affirmed that the 470 deputies, along with the various agencies and institutions, have a duty to explain the scope of the measures to the people. He stressed the need to pay special attention to Cuban youth and expressed confidence in the country's capacity to save the Homeland, the Revolution, and socialism.

Deputy Carlos Miguel Pérez Reyes stated that, despite the policy of maximum pressure exerted against Cuba, the country remains steadfast in defending the Homeland and its social and economic model. However, he affirmed that alongside the effects of the blockade, there are internal obstacles that must be eliminated and emphasized that several of the transformations presented have been proposed for years.

He underscored that change does not mean renouncing socialism, but rather defending the country's current conditions, and maintained that true social justice cannot exist in an economy that is not productive. In this regard, he supported the proposed reforms, which aim to grant greater autonomy to state-owned enterprises and open opportunities for all economic actors. He also emphasized the vision of a single Cuban business sector comprised of state, cooperative, private, and foreign entities.

During his remarks, he made several observations on the document under review. Regarding the reforms related to state ownership, non-state management, and the transfer of assets, he deemed it necessary to precisely define the concept of fundamental means of production and avoid vague statements about the gradual nature of the reforms.

He proposed revising point 32 to avoid contradictions between public ownership of the fundamental means of production and the expansion of non-state management models. He also suggested removing the word "private" from point 23 and clarifying that a single individual may hold equity and ownership interests in more than one company.

Regarding point 56, he called for clarification of the scope of the additional 1% contribution linked to fuel, considering that the accumulation of various taxes could increase the cost of a product that is highly sensitive for the population.

With respect to the tax system, he proposed that until the value-added tax and electronic invoicing are implemented, the sales and wholesale services tax be eliminated, arguing that it increases costs in the value chains.

In banking matters, he proposed explicitly including the Cuban private sector among the actors authorized to collect payments abroad, on equal terms with other economic entities.

The deputy identified five essential elements for the success of the transformations: public accountability regarding progress and challenges; swift implementation of the measures; active participation of economists, universities, businesses, local governments, and the population; support for those implementing the changes; and the need to subsidize people, not products, accompanying these actions with an increase in income.

He also called on the Cuban private sector to strengthen its social responsibility by supporting, to the best of its ability, retirees, family support systems, children's homes, senior citizen centers, daycare centers, and other vulnerable sectors. He argued that the contributions of this sector should be organized to become a concrete force at the service of the people.

In closing, he stated that the greatest risk is not in over-transforming, but in doing so only partially, and he called for moving forward together, with the people and for the people, in the production, transformations, and development of the country.

"As I have said on several occasions, this is truly applying the concept of Revolution," stated Deputy Emilio Interián Rodríguez, who acknowledged the work done in developing the proposals and called for swift action, without bureaucracy or fear, to implement the transformations and help overcome the complex situation facing the country.

Referring to the agricultural sector, he considered that the measures presented address many of the problems that have limited the growth of food production. He highlighted the transformations related to marketing, contracting, and price formation, noting that these must correspond to real costs to incentivize producers and recover affected sectors, including livestock.

He emphasized the importance of maintaining tax incentives for production and promoting the import of inputs and raw materials through tariff and tax policies that reduce costs and increase the competitiveness of domestic production. He cited pork production as an example, whose development, he said, can benefit from better use of available raw materials and the production of higher-quality products.

Interián Rodríguez described the transformations related to land use and ownership as revolutionary. He considered it necessary to expand access to idle land for producers with proven results and eliminate limitations that hinder the incorporation of new land into production.

He also called for a review of the outstanding debts owed to agricultural producers, considering that payment delays affect motivation and constitute an issue that requires attention.

The deputy emphasized that the new measures demand greater initiative from producers and the search for their own alternatives through production chains and other forms of management, in accordance with the guidelines aimed at increasing national production.

He stressed that the economic and social transformations respond to sovereign decisions of the country and assured that any future changes will continue to be carried out under the premise of preserving national independence and socialism.

As part of the debate, Deputy Laura Marian Bacallao Padrón praised innovative proposals such as 66 and 69, associated with the Social Transformations Axis, which require a responsible party for their implementation. She suggested considering the possibility of explaining the transformations to the population for greater understanding and to avoid misinterpretations.

Likewise, Deputy Francisco Ricardo Sagaró, from Santiago de Cuba, proposed incentivizing payments based on the achievement of indicators and salary differentials that encourage, among other things, the pursuit of higher education and performance-based pay.

On the other hand, Deputy Ailyn Febles asserted that these are transformations for all Cubans, not just a select few, measures that will allow, despite the blockade, "more Cuban-style socialism."

She acknowledged that all companies are national and that the functioning of the business system must be based on socialism, and she emphasized the importance of direct dialogue with the population regarding the significance of these measures.

Similarly, Ana Teresa Igarza maintained that the fundamental challenge of the transformations lies in their implementation and in preserving the Commander's founding vision and the achievements already attained.

She considered it the right time, given the transformations, to discuss the Business Law, considering the multitude of stakeholders involved, and she highlighted that the productive linkage platform is applicable to the entire business sector.

She proposed that micro, small, and medium-sized enterprises (MSMEs) not be evaluated by the number of employees but by their revenue and profitability.

At another point, Deputy Leydis María Labrador commented on the legal safeguards for the proposals and transformations, noting that the Constitution supports the measures, and considered that, based on the political foundations of the Magna Carta, there is a way to ratify these proposals.

Deputy José Carlos del Toro Ríos, president of the National Association of Economists and Accountants of Cuba (ANEC), emphasized that the proposals presented are also the result of analyses and contributions made by Cuban economists. He indicated that the organization is committed to the process of communicating the transformations and to monitoring their implementation, in order to contribute to the identification and mitigation of risks. He also expressed his support for the transformations and reaffirmed the commitment to advance in defense of socialism, under the premise put forth by Commander-in-Chief Fidel Castro Ruz: to change everything that must be changed to preserve what is essential.

Speaking at the debate, the First Secretary of the Central Committee of the Party and President of the Republic, Miguel Díaz-Canel Bermúdez, stressed that the proposed economic and social transformations do not signify a renunciation of socialism, but rather a search for how to continue building it under the specific conditions of Cuba, a country that has faced the blockade imposed by the United States for decades.

He pointed out that this is Cuban socialism and explained that the proposals are the result of contributions from economists, the study of experiences in other socialist countries, and the extensive debate that has taken place in the country over the years.

He recalled that many of the measures were already included in the first version of the Guidelines and considered that, regardless of the current complex scenario, the country should move forward with these transformations.

"We have reached a moment of maturity, of reflection, characteristic of the debate that has taken place over all these years, which is telling us that we had to continue defending socialism, but building it with some transformations," he stated.

Díaz-Canel noted that, even in a more favorable economic context, it would have been necessary to undertake these changes, albeit under more comfortable circumstances. He added that the main challenge is to preserve and expand the social justice built by the Revolution, for which it is essential to have an economy capable of generating the necessary resources.

"We all talk about maintaining social justice, but the first thing we have to do is produce." “If we don’t produce, if we don’t generate wealth, if we don’t provide quality services that are inclusive and comprehensive, what kind of social justice are we going to defend?” he reflected.

The president affirmed that social justice requires a solid economic foundation and emphasized that the priority is to work, produce, and create wealth. “In such difficult conditions, there is only one way to do it right: by innovating,” he concluded.

Speaking at the close of the exchange, Political Bureau member and Prime Minister Manuel Marrero Cruz highlighted the depth of the analyses conducted both in the Political Bureau and in the Plenum of the Central Committee of the Party and in the extraordinary session of the National Assembly, and emphasized the enriching and transformative nature of the debate.

He stressed that the interventions of the deputies were not limited to supporting the proposals, but also incorporated concrete proposals that imply modifications and even new transformations. In that regard, he reported that the working group tasked with drafting the document will immediately begin a revision process to incorporate the proposals, opinions, and criteria contributed during the analysis, with the aim of creating a single document.

Marrero Cruz clarified that the proposed transformations constitute the "what" and that the next step is to develop the "how"; that is, the mechanisms for their implementation and a more precise definition of their scope. He noted that many of the proposals made by the deputies are precisely part of this implementation phase, where the measures must be finalized and expanded so that their results can be observed.

He acknowledged that this is an arduous and complex process, requiring rigorous management and coordination among various institutions. He explained that, by decision adopted at the highest level, the Government is responsible for directing and managing the entire implementation process; the National Assembly of People's Power and its president, Esteban Lazo Hernández, are responsible for providing legal support for the transformations; and to the member of the Political Bureau and Secretary of Organization of the Central Committee of the Party, Roberto Morales Ojeda, personally assume the political assurance of the process.

The Prime Minister emphasized that the country's top leadership has assumed the responsibility of comprehensively guiding the process stemming from the proposed economic and social transformations.

José Amado Ricardo Guerra, member of the Political Bureau and Secretary of the Council of Ministers, read a letter from Army General Raúl Castro Ruz, in which he expressed his support for the proposed economic and social transformations. In the message, the leader of the Revolution expressed his agreement with the presented measures and his conviction that they contribute to the goal of strengthening socialism and preserving the gains achieved in the complex circumstances facing the country.

In Spanish: 9,492 Words From Government Of Cuba Will Not Be Enough To Implement Changes Required For Survival, But Is A Useful Beginning

Granma
Havana, Republic of Cuba
18 June 2026

Presentan transformaciones económicas y sociales ante el Parlamento cubano (+ Cobertura Especial)

LINK: https://www.granma.cu/cuba/2026-06-18/comenzo-la-tercera-sesion-extraordinaria-de-la-asamblea-nacional-del-poder-popular

El encuentro cuenta con la participación –vía telemática– del General de Ejército Raúl Castro Ruz. Está presente en la sala el Primer Secretario del Comité Central del Partido y Presidente de la República, Miguel Díaz-Canel Bermúdez 

Para evaluar las propuestas de transformaciones económicas y sociales, un tema de vital importancia para el futuro del país, se realiza hoy la Tercera Sesión Extraordinaria de la Asamblea Nacional del Poder Popular (ANPP), en su X Legislatura.

El encuentro, que tiene lugar en su espacio habitual del Palacio de Convenciones con los diputados de La Habana y con aquellos que viven en la capital dadas sus responsabilidades, así como con todos los diputados del país conectados de forma digital, cuenta con la participación vía telemática del General de Ejército Raúl Castro Ruz.

Además, se encuentra presente en la sala el Primer Secretario del Comité Central del Partido y Presidente de la República, Miguel Díaz-Canel Bermúdez. 
El presidente de la ANPP y del Consejo de Estado, Esteban Lazo Hernández, recordó a Vilma Espín Guillois, heroína de la Revolución Cubana, quien falleciera en esta fecha hace 19 años.

INFORMA EL PRIMER MINISTRO TRANSFORMACIONES DE IMPACTO ESTRATÉGICO EN EL MODELO ECONÓMICO Y SOCIAL CUBANO

En el contexto más complejo que enfrenta el país desde el periodo especial, el miembro del Buró Político y primer ministro, Manuel Marrero Cruz, compareció ante la ANPP para presentar transformaciones de impacto estratégico en el modelo económico y social cubano, concebidas como un ejercicio soberano para preservar las conquistas de la Revolución sin renunciar al socialismo.

Durante su intervención, el Jefe de Gobierno contextualizó la situación actual: una combinación inédita de medidas coercitivas del gobierno de Estados Unidos, que ha llegado a interrumpir el suministro de combustible y las fuentes de ingreso en divisas, afectando de manera significativa la estabilidad de la infraestructura energética y la calidad de vida de la población. 
Reconoció, asimismo, que nunca se han negado los errores e insuficiencias propias, pero subrayó que este conjunto de factores ha incidido sostenidamente en la implementación de las transformaciones aprobadas desde el VI Congreso del Partido en 2011, cuyos resultados positivos se mantuvieron hasta mediados de 2019, cuando se recrudeció la política de sanciones, reforzada a inicios de enero de 2025.

En ese escenario, el Partido y el Gobierno, en legítimo ejercicio de su soberanía, han impulsado medidas para reactivar la economía y corregir distorsiones, proceso fortalecido con la aprobación del Programa Económico y Social del Gobierno, validado por el pueblo mediante consulta popular.

Tomando como referencia directa el sentir popular, el Primer Ministro anunció transformaciones que hallan su primer fundamento en el pensamiento del Comandante en Jefe Fidel Castro Ruz quien, en 1993, en pleno periodo especial, advirtió: «La vida, la realidad, la dramática situación que está viviendo el mundo, este mundo unipolar, nos obliga a hacer lo que de otra forma no habríamos hecho nunca si hubiésemos tenido capital y si hubiésemos tenido tecnología para hacerlo».

Bajo el principio rector de hacer lo necesario para conservar lo esencial, las medidas propuestas incluyen la ampliación de la participación de todos los actores económicos en igualdad de condiciones, el fomento de la inversión extranjera y la admisión de mecanismos de mercado como instrumento de asignación de recursos. Estas acciones –enfatizó– no constituyen una claudicación, sino la adecuación soberana de los instrumentos del desarrollo a las circunstancias concretas del país.

El Primer Ministro recordó las premisas del General de Ejército Raúl Castro Ruz en la conducción de la actualización del modelo económico y social: no ser dogmáticos ni inmovilistas, desterrar la asociación mecánica entre socialismo e igualitarismo, y reconocer que la planificación socialista no excluye, sino que debe incorporar y regular las reglas del mercado.
Las transformaciones presentadas, que serán debatidas, se inscriben en el esfuerzo colectivo por reactivar la economía y corregir distorsiones, sin renunciar jamás a la construcción socialista, sino como condición para su preservación.

Para la elaboración de las propuestas de transformaciones –expuso Marrero Cruz– se consideraron: las indicaciones del General de Ejército y del Primer Secretario del Comité Central, el Programa de Gobierno 2026, la propuesta de actualización de la Conceptualización del Modelo Económico y Social, así como los Acuerdos del Congreso de la ANEC y dirigentes del Estado y el Gobierno del país. 

Significó que se recibieron 390 propuestas, aceptándose el 66,7 % y el resto se corresponde con el proceso de implementación, otras valoraciones positivas, así como aspectos que no constituyen transformaciones.

Como resultado del análisis de las propuestas de transformaciones realizado en el Buró Político, fueron incorporadas al documento 69 recomendaciones. 

El Jefe de Gobierno apuntó que el documento que se presenta recoge 176 propuestas de transformaciones, agrupadas en 23 ejes fundamentales de la vida económica y social del país.

EJE 1: TRANSFORMACIONES EN EL MODELO DE GESTIÓN DE LOS ACTORES ECONÓMICOS 

Empresa Estatal Socialista

-Ampliar las facultades del sistema empresarial estatal en aras de que opere con mayor autonomía y en similares condiciones, con el resto de los actores económicos, lo que incluye la realización de cualquier actividad lícita, sin abandonar el objeto social principal. En lo adelante lo que se apruebe al resto de los actores se aplicará a la empresa estatal Socialista.

- Descentralizar al sistema empresarial la facultad de aprobación de los precios mayoristas y minoristas. En la formación se tendrán en cuenta los costos, gastos, tendencias del mercado, cadenas de valor y las relaciones verticales y horizontales entre los actores económicos.

- Redimensionar las OSDE, sin incluir funciones estatales ni aquellas que son propias de las empresas.

- Facultar a las OSDE para la creación de empresas y mipyme estatales; a las empresas para la creación de filiales y mipyme estatales y a ambos niveles para:

*Fusión, extinción, liquidación y otros movimientos organizativos, según corresponda.

*Se facultarán a las OSDE para definir sus estructuras y agrupar cargos administrativos o subcontratar servicios.

- Flexibilizar la aprobación y el destino de las utilidades después de impuestos.

- Actualizar las funciones y facultades de las Juntas de Gobierno para hacer más flexible su funcionamiento.

- Permitir el acceso al mercado cambiario en las nuevas condiciones derivadas de la Implementación de las transformaciones, a las estructuras empresariales que participan en cadenas de suministros.

* Eliminar la escala salarial en el sistema empresarial estatal y establecer un salario mínimo que tome en cuenta los niveles de inflación:

* Los niveles de salario, negociados con los trabajadores y con la participación del Sindicato, dependerán de la capacidad económica-financiera de las empresas.

- Cambiar la relación del presupuesto del Estado con el sistema empresarial, lo que incluye la revisión de la carga financiera y la eliminación de los subsidios a las empresas.

- Facultar a los Gobiernos Provinciales y a los Consejos de la Administración Municipales para la creación, fusión, extinción, liquidación de empresas estatales locales y el resto de los movimientos organizativos.

- Reducir al mínimo imprescindible los indicadores para medir la eficiencia del sistema empresarial estatal.

-Permitir y fomentar que las empresas (incluye las empresas privadas) realicen inversión financiera.

- Diseñar instrumentos financieros que permitan la capitalización de las empresas, sin la participación del presupuesto del Estado.

- Implementar un Programa Nacional de Valoración y Titulación de Activos (avalúos) Empresariales Estatales que: 

*Realice un inventario nacional de activos tangibles e intangibles del sistema empresarial con valoración de mercado. 

*Emita certificados de propiedad ejecutables que puedan constituirse en garantía colateral para crédito bancario. 

*Permita que las empresas estatales moneticen activos subutilizados mediante arrendamiento a largo plazo a diferentes actores de la economía e inversión extranjera.

- Diseñar un sistema empresarial eficiente y competitivo que genere ingresos para el apoyo a los servicios de los organismos del sector social.

- Establecer procedimientos para la quiebra, liquidación y reestructuración de activos con pérdidas sostenidas en el sector estatal.

- Transformar la empresa estatal socialista a sociedad mercantil por acciones o participaciones:

*El Estado definirá su participación accionaria en los sectores de la economía, garantizando en los estratégicos su presencia mayoritaria.

*Las empresas estatales podrán comprar acciones de otras empresas.

*También podrán comprar acciones las formas de gestión no estatal y personas naturales, en la gradualidad que se defina. 

*Para este proceso será necesario clasificar las empresas.
Formas de gestión no estatal

- Autorizar la creación de las mipymes y cooperativas no agropecuarias pendientes de aprobación en la

Plataforma de Actores Económicos.

- Reducir los requisitos, trámites y términos para la creación, conversión y operación de las formas de gestión no estatal, definiendo los tiempos de aprobación.

- Permitir la contratación de más de 100 trabajadores. A partir de esta cifra se clasificarán como empresas privadas.

- Permitir que una persona natural pueda ser titular de más de una empresa privada.

- Ampliar las formas societarias bajo las que pueden organizarse las empresas privadas, incluyendo sociedades anónimas por acciones.

- Permitir que una misma persona natural cuente con participación accionaria en más de una empresa privada.

- Conceder derechos reales (usufructo y superficie) a empresas privadas o cooperativas, con el fin de realizar inversiones para el desarrollo de sus actividades productivas o de servicios.

- Autorizar que los depósitos de divisas en efectivo de actores no estatales se acrediten en cuentas bancarias en la misma moneda, sujeto a declaración de origen lícito de los fondos y derecho de extracción.

- Permitir que las formas de gestión no estatal desarrollen otras actividades productivas y de servicios, sin abandonar su actividad principal.

- Reducir la lista de actividades prohibidas para los actores económicos no estatales. 

- Perfeccionar la Plataforma de Actores Económicos e incorporar el empleo de la Inteligencia Artificial. Garantizar su transparencia, trazabilidad y agilidad.

- Transformar la estructura institucional y las formas de propiedad y gestión de la base productiva del sector agropecuario. Permitir empresas privadas en la actividad agropecuaria.

- Desarrollar un mercado de insumos, con la participación de todos los actores, y con la posibilidad de acceder al mercado cambiario.

- Crear una Plataforma Nacional para Encadenamientos Productivos que establezca la obligación de las empresas estatales a publicar sus necesidades de insumos y subcontratación, así como el otorgamiento de incentivos fiscales por niveles de compras a los productores nacionales. 

EJE 2: TRANSFORMACIONES EN LAS RELACIONES DE PROPIEDAD. DIFERENCIAS ENTRE PROPIEDAD Y GESTIÓN

El Jefe de Gobierno señaló que, en cuanto a las transformaciones en las relaciones de propiedad y las diferencias entre propiedad y gestión, se ratifica la propiedad social sobre los medios fundamentales de producción y avanzar en la gestión no estatal sobre estos medios.

Agregó que dentro de las nuevas medidas están permitir la compra de acciones y propiedades de empresas estatales por parte de personas jurídicas estatales y no estatales, nacionales y extranjeras, así como naturales, siempre que se demuestre el origen lícito de los fondos.

Resaltó la creación de un Programa de Inversión que incentive la participación en empresas cubanas de cubanos residentes en el país y en el exterior; además de reconocer el crecimiento legítimo del patrimonio financiero y material de las personas jurídicas y naturales y garantizar la protección de los derechos laborales y sociales sin permitir una explotación indiscriminada del hombre por el hombre. 

EJE 3: TRANSFORMACIONES EN EL SISTEMA DE PLANIFICACIÓN DE LA ECONOMÍA

-  Perfeccionar la planificación de mediano y largo plazos, enfocada en el diseño del desarrollo, priorizando los equilibrios macroeconómicos, reducir problemas estructurales y dar señales de política para todos los actores económicos.

-Incorporar en las proyecciones del Plan Nacional de Desarrollo Económico y Social hasta 2030 y en las Estrategias de Desarrollo Provincial y Municipal las actividades económicas, comerciales y de servicios de los actores económicos no estatales.

-  Transitar hacia un modelo de planificación financiera, donde el Estado abandona progresivamente la distribución física de recursos, dando mayor participación a las señales del mercado:

•    Las empresas estatales accederán de forma descentralizada a insumos, divisas y otros recursos para su producción a través de mecanismos de mercado. 

•    El encargo estatal se ejecutará mediante un esquema contractual entre entidades oferentes y  demandantes. 

•    El proceso de planificación deberá tener presente la satisfacción de las demandas del mercado interno. 

-  Mantener los balances fundamentales de la economía (agroalimentarios, divisas, energéticos y el presupuesto del Estado), convirtiéndose en instrumentos de diagnóstico, anticipación y corrección de políticas.

-  Ampliar los límites de aprobación de las inversiones a partir de la descentralización de la facultad a empresas estatales, sociedades mercantiles o de inversión extranjera en función de sus capacidades financieras y acceso a los recursos. 

EJE 4: TRANSFORMACIONES Y REDIMENSIONAMIENTO DEL SECTOR PRESUPUESTADO

Marrero Cruz significó que dentro de las propuestas de transformación económica se plantea una reestructuración de la Administración Central del Estado, que incluiría una reducción significativa del número de ministerios y organismos presupuestados.

Según explicó, ya circula una propuesta legislativa que contempla la reorganización de las estructuras estatales y gubernamentales, con el propósito de adecuarlas a las nuevas condiciones económicas del país y hacer más eficiente la gestión pública.

Este proceso –dijo– también impactaría directamente en las administraciones provinciales y municipales, donde se prevé un redimensionamiento de las estructuras y plantillas laborales. 

EJE 5: TRANSFORMACIONES EN LA AUTONOMÍA MUNICIPAL

Descentralizar a nivel municipal las siguientes competencias:

- Planificación estratégica.

- Ordenamiento territorial y urbano.

- Soberanía alimentaria y seguridad alimentaria y nutricional.

- Servicios comunales.

 - Fomento del desarrollo económico local:

•    Diversificar y fortalecer su tejido productivo, que considera la participación de los diferentes actores económicos, cubanos residentes en el país y en el exterior, e incluye sistemas productivos locales. 

•    Capacidad de exportar e importar, así como generar y retener divisas para gastos corrientes y de capital. 

•    Estimular y gestionar inversión extranjera directa. 

- Gestión administrativa y de recursos humanos municipales.

- Gestión presupuestaria, financiera y tributaria local. 

EJE 6: TRANSFORMACIONES ENERGÉTICAS

-Permitir la participación del capital privado y extranjero en la importación y comercialización de combustibles, incluida la red minorista.

- Ampliar y reestructurar la gestión de la red de servicentros, incluidos los servicentros móviles:

*Establecer que los servicentros gestionados por los diferentes actores económicos incorporen sistemas fotovoltaicos con acumulación para que los mismos se independicen del Sistema Eléctrico Nacional.

*Estimular la instalación de solineras para comercializar el servicio de carga de vehículos eléctricos. 

-Diseñar líneas de financiamiento, flexibilizar los requisitos y ampliar las garantías para el otorgamiento de créditos a las personas jurídicas y naturales, que incentiven la transición energética. Estimular la inversión desde el lado de la demanda.

-Permitir a las empresas estatales el uso de plataformas extranjeras para ejecutar pagos para la compraventa de combustibles.

-Aplicar el impuesto hasta un 1 % a la importación de combustible físico o financiero, con destino a los inventarios operacionales.

-Reducir el impuesto, en un monto equivalente a la inversión realizada, a los actores económicos estatales y no estatales que realicen inversiones con fuentes renovables de energía, como parte de su responsabilidad social, en centros de servicios a la población, sociales o de cuidados, incluyendo el alumbrado público.  

EJE 7: TRANSFORMACIONES PARA INCENTIVAR LA RECUPERACIÓN AGRÍCOLA

- Modificar la gestión y uso de la tierra a todos los actores económicos:

*Mantener el principio de la propiedad de la tierra de todo el pueblo.

*Otorgar el derecho real de usufructo sobre la tierra, a las personas jurídicas estatales, privadas, mixtas o naturales que lo soliciten, por tiempo indeterminado y la cantidad de áreas según proyecto presentado, para todas las producciones agropecuarias, forestales y tabacaleras, así como para proyectos de desarrollo de eco y agroturismo.

*Facultar a la empresa estatal que administra la tierra propiedad socialista de todo el pueblo que la entregue en usufructo a los solicitantes mediante el correspondiente contrato, cumpliendo las normas legales vigentes.

*Facultar la entrega de tierras en usufructo a las Cooperativas de Producción Agropecuaria (CPA), una vez aprobado por la Asamblea General de la cooperativa y cumpliendo las normas legales vigentes.

*Eliminar los requisitos de trabajo directo y estable en la tierra por parte de los usufructuarios.

*Evaluar la definición de colectivos laborales y proponer las transformaciones estructurales necesarias.

- Transformar el modelo de gestión de las cooperativas:

*Autorizar a las cooperativas a importar y comercializar combustibles como insumo. 

*Otorgar las facultades a las cooperativas de realizar comercio exterior de forma directa, para las exportaciones de sus productos y las importaciones de insumos y tecnologías agropecuarias.

*Permitir a las cooperativas a gestionar directamente financiamientos externos para producciones exportables, que sustituyan importaciones y para inversiones.

*Permitir que las cooperativas abran cuentas bancarias en el exterior y en bancos cubanos, tanto en pesos como en divisas.

*Flexibilizar la comercialización agropecuaria. Reconocer el mercado en la formación de precios:

*Descentralizar y facultar la formación de precios de los productos agropecuarios, a las entidades del sistema empresarial estatal y no estatal, las cooperativas y productores.

*La contratación y concertación de precios de los productos agropecuarios serán acordados entre el productor y el comprador.

*Homologar el régimen impositivo de todos los actores económicos, que produzcan, transformen y comercialicen alimentos.

*Crear el Sistema Nacional de Información de Precios de los mercados de los productos agropecuarios, con publicaciones de los precios de referencia, en plataformas digitales.

- Diseñar incentivos para que todos los actores económicos comercialicen insumos agropecuarios en divisas y en pesos y tengan acceso al mercado cambiario:

*Autorizar a todos los actores económicos la comercialización directa de insumos y equipos agropecuarios en divisas y en pesos.

*Fomentar la creación de mercados de insumos en divisas, donde participan personas naturales y jurídicas nacionales y extranjeras, mediante un proceso simplificado.

*Aprobar un régimen impositivo especial para todos los actores económicos que participen en el mercado de insumos, con incentivos y bonificaciones para la importación y comercialización de insumos en divisas.

*Crear los procedimientos bancarios que garanticen la ejecución de las transacciones en divisas de la venta de insumos a los productores y el pago a los proveedores en el exterior, mediante la utilización de POS para el pago por tarjeta magnética, transferencia, pago en efectivo, comercio electrónico y otros instrumentos de pago autorizados. 

-Incrementar el financiamiento al sector productivo primario mediante la ampliación y descentralización territorial del Fondo de Fomento Agrícola y la creación de un Banco para el Fomento Agrícola:

*Descentralizar a los municipios la utilización del Fondo de Fomento Agrícola, ajustado a las características del territorio, previa presentación de los proyectos que tributen a las Estrategias de Desarrollo, vinculado a la producción de alimentos. 

EJE 8: TRANSFORMACIONES SOCIALES

- Digitalizar y transparentar la gestión de las ayudas mediante el empleo de la plataforma SOBERANIA para la actualización en tiempo real del registro de las personas y familias en situaciones de vulnerabilidad, de manera que se sistematice las diferentes formas de atención, su trazabilidad y control gubernamental y público.

- Establecer que todos los actores económicos (estatales y privados – nacionales y extranjeros) como parte de su responsabilidad social a nivel comunitario, en el orden financiero, de recursos materiales y servicios, participen directamente en las actividades siguientes:

*Apoyar el pago a pensionados mediante convenios con los bancos.

*Respaldar los comedores del Sistema de Atención a la Familia y Hogares de Alimentación Comunitaria.

*Apoyar hogares de niños sin amparo parental.

*Apoyar hogares de ancianos, maternos, casas de abuelos y otros centros sociales.

*Establecer precios diferenciados, descuentos, gratuidades o cupos solidarios para personas en situación de vulnerabilidad.

*Atender casos en situación de vulnerabilidad identificados por los gobiernos locales.

*Apoyar el transporte social y sanitario.

*Respaldar instituciones de la salud pública y centros educacionales.

*Contribuir a la higiene comunal y al saneamiento de zonas críticas.

*Destinar productos básicos a instituciones sociales.

*Crear módulos básicos mensuales para personas y familias en situación de vulnerabilidad.

*Ofrecer empleo, capacitación o aprendizaje a personas en situación de vulnerabilidad.

*Crear fondos de emergencia locales con aportes privados.

*Habilitar locales privados como puntos de acopio y distribución en situaciones de emergencia.

*Apoyar servicios funerarios para familias sin recursos.

*Impulsar ferias y ventas populares en comunidades en situación de vulnerabilidad. 

-Fortalecer el Trabajo Social con un enfoque proactivo y preventivo a partir de jerarquizar su labor en el municipio.

-Dotar de activos de pequeña escala, para el desarrollo de actividades no estatales, a personas en situación de vulnerabilidad multidimensional, como vía para incorporarse al empleo y superar esta condición.

-Diseñar servicios educativos, de capacitación, de postgrado, culturales y otros seleccionados que constituyan fuentes de ingresos al sector social.

-Diseñar tarifas diferenciadas para los servicios de círculos infantiles y de seminternado en correspondencia con los ingresos familiares. 

-Diseñar beneficios fiscales a los talleres donde laboren personas en situación de discapacidad con el objetivo de incrementar los ingresos de los trabajadores. 

EJE 9: TRANSFORMACIONES DEL SUBSIDIO A PRODUCTOS AL SUBSIDIO A PERSONAS

-Eliminar subsidios a productos transformándolos en subsidios a personas e implementarlo en el orden siguiente:

*Productos transversales a la economía (combustibles, electricidad, transporte de cargas y pasajeros y tarifa de agua) que impactan en la producción y los servicios para trasladar los costos reales a los precios mayoristas y minoristas.

*Otros productos.

-Crear un Fondo de Protección Social, como condición previa a las transformaciones, a partir de una parte del ahorro por la eliminación de los subsidios a productos.  

EJE 10: TRANSFORMACIONES LABORALES Y SALARIALES

- Implementar una reforma integral de salarios en el sector presupuestado.

- Fijar anualmente el salario mínimo y, en correspondencia, la cuantía de las prestaciones, y pensiones de la seguridad social, así como los incrementos salariales, a partir de la tendencia de la inflación

-Con relación al Sistema de pensiones de la seguridad social establecer:

*La eliminación del límite de la escala establecida para el pago de la contribución social del sector no estatal.

*Que las personas que laboran en los sectores estatal y no estatal, de manera simultánea, puedan afiliarse y contribuir a los regímenes correspondientes de cada actividad. 

*Que, de los 30 años mínimos de servicio exigidos por el régimen contributivo, se considere, hasta un máximo de 10, si la persona los ha dedicado a cuidados familiares.

-Eliminar la aprobación administrativa para el ejercicio del pluriempleo por los técnicos, profesionales de la salud, la investigación, maestros, profesores y funcionarios.

-Establecer incentivos para retener la fuerza de trabajo calificada con énfasis en los jóvenes.

-Establecer un ingreso mensual equivalente a un salario mínimo por ayuda para su devolución posterior, a jóvenes entre 18 y 30 años desvinculados del estudio y el empleo que se vinculen a un curso de preparación. El financiamiento correrá a cargo del presupuesto de la asistencia social o el sistema empresarial, según corresponda. Se reconocerá el periodo de formación como tiempo de servicio prestado. 

-Facultar a los empleadores, en acuerdo con la organización sindical, para la concertación de jornadas laborales reducidas y de los pagos correspondientes, para actividades profesionales, las que incorporan en el convenio colectivo de trabajo.

-Establecer para el sector empresarial y presupuestado que trabajadores de la propia entidad puedan realizar actividades profesionales, mantenimientos constructivos y similares.

-Permitir el ejercicio del teletrabajo desde el exterior, por interés del empleador.

-Incluir como causa justificada de suspensión del cumplimiento del servicio social, la superación en el extranjero por interés personal asociado al perfil profesional, con la conformidad del empleador.

-Facultar directamente a las entidades para determinar los trabajadores que cesan el vínculo laboral por motivos económicos, tecnológicos y estructurales, previa evaluación en el órgano colegiado de dirección, de común acuerdo con la organización sindical y análisis en la asamblea de afiliados y trabajadores:

*Los trabajadores en esta condición reciben una protección monetaria equivalente a un mínimo de tres y máximo de seis veces el salario básico del cargo que ocupaban por una única vez. 

-Establecer la protección equivalente a un mes de remuneración a los trabajadores contratados por los TCP, ante la suspensión temporal o cancelación de la actividad. 

EJE 11: TRANSFORMACIONES Y MODERNIZACIÓN DEL SISTEMA BANCARIO Y FINANCIERO

- Fomentar la participación del capital privado en la actividad bancaria:

* Ampliación de instituciones financieras bancarias y no bancarias por parte de empresas privadas, cooperativas e inversión extranjera con licencia de banca corporativa y universal.

* La banca privada operará bajo supervisión del BCC en igualdad de condiciones regulatorias con la banca estatal.

*Se permitirá el establecimiento de instituciones financieras no bancarias o no financieras de apoyo al sector bancario de capital privado nacionales o extranjeras para el otorgamiento de microcréditos.

-  Eliminar las restricciones a los pagos en divisas entre negocios con capital extranjero y sus proveedores nacionales.

-  Permitir la apertura de cuentas en divisas por parte de personas jurídicas y naturales, sin autorización administrativa previa.

-  Implantar el marco regulatorio para activos virtuales y el uso de tecnologías financieras y expandir su uso para operaciones de cobros y pagos internacionales y nacionales. Crear entidades financieras para activos virtuales.

- Actualizar el sistema de tasas de interés ajustándolo a las condiciones actuales de la economía (incluyendo los bonos soberanos).

* La banca privada operará bajo supervisión del BCC en igualdad de condiciones regulatorias con la banca estatal.

* Se permitirá el establecimiento de instituciones financieras no bancarias o no financieras de apoyo al sector bancario de capital privado, nacionales o extranjeras, para el otorgamiento de microcréditos.

-  Implantar la figura de agente de pago de última milla para formalizar los flujos de remesas a través de un canal privado.

-  Diseñar otras vías de capitalización de los bancos, en adición a los recursos del presupuesto del Estado.

-  Actualizar la estrategia con nuevo enfoque para el tratamiento de la deuda externa, teniendo en cuenta las condiciones actuales.

-  Acelerar el proceso de automatización de los bancos y la reducción de los trámites asociados a sus servicios.

-  Otorgar a Transfermóvil licencia de institución financiera no bancaria.

-  Culminar el proceso de eliminación de los límites en las transferencias bancarias y la extracción de personas naturales y jurídicas, nacionales y extranjeras.

Transformaciones cambiarias

-  Redimensionar el mercado cambiario oficial y de remesas, con la participación de actores económicos no estatales, lo que incluye otorgar licencias para operaciones de casas de cambio privadas:

* Crear un mercado cambiario digital, en tiempo real, con agentes autorizados.

* Implementar un sistema de subastas de divisas.

-  Realizar devaluaciones sucesivas de la moneda nacional para reducir las diferencias de tipo de cambio. Las empresas que no soporten la devaluación serán liquidadas.

* Incorporar al segmento II las cooperativas, sector diplomático, mipymes estatales e inversión extranjera que operan con formas de gestión no estatales, garantizando que no ocurra arbitraje. Las empresas estatales concurrirán libremente para la venta y de manera controlada para las compras.

- Crear instituciones financieras no bancarias estatales y privadas que se dediquen a la canalización de flujos financieros, incluyendo las remesas, a través de operaciones cambiarias.

-  Establecer ventanillas únicas de cambio para todos los actores económicos que se decida.

-  Ampliar el objeto social de instituciones financieras no bancarias que ofrezcan el servicio para la administración de fondos de la cooperación internacional.  

EJE 12: TRANSFORMACIONES DEL SISTEMA TRIBUTARIO

-  Perfeccionar la imposición al consumo, mediante la implementación gradual del Impuesto sobre el Valor Añadido (IVA). Se iniciará por determinadas cadenas de producción-consumo y contemplará tipos impositivos reducidos a productos de la canasta de bienes y servicios.

-  Establecer la factura electrónica fiscal con incentivos que promuevan su asimilación por parte de los contribuyentes.

-  Aplicar una bonificación al Impuesto sobre las ventas y servicios en función de los niveles de ventas bancarizadas.

-  Reducir la carga fiscal del sector empresarial por concepto del impuesto sobre utilidades, con el objetivo de incrementar sus capacidades de crecimiento e inversión. Ampliar la base imponible eliminando deducciones especiales no justificadas económicamente y reduciendo el riesgo de la evasión fiscal.

* Establecer un impuesto sobre ingresos brutos a las empresas que declaren pérdidas por más de dos periodos fiscales.

-  Aplicar un tipo impositivo reducido del Impuesto sobre Utilidades para el sector agropecuario.

-  Simplificar el cálculo y pago del Impuesto sobre Utilidades, eliminando el término de la utilidad per cápita, lo que implica aplicar el impuesto a los socios de CNA, CPA y UBPC.

-  Diseñar un régimen de depreciación acelerada para la adquisición de maquinarias, tecnologías de producción de alimentos y procesamiento industrial, que favorezca la recuperación de las inversiones.

-  Disminuir la carga financiera de las entidades, determinada por el aporte del rendimiento de la inversión estatal, condicionada para su uso en el desarrollo y capitalización.

-  Aplicar incentivos fiscales a los actores económicos estatales y no estatales que financien inversiones en el sector social.

-  Actualizar el impuesto sobre ingresos personales, en correspondencia con el actual escenario inflacionario, mediante los siguientes ajustes:

* Modificar la escala progresiva para la liquidación y pago anual del tributo. Reducir el número de escalas para homogeneizar la aplicación del impuesto.

 * Incrementar el mínimo exento hasta el nivel del salario medio del país al cierre del año 2025.

-  Retomar el régimen simplificado de tributación sobre las actividades de menor complejidad, con un sistema de ajuste automático según los niveles de ingresos brutos anuales, facilitando que la Oficina Nacional de Administración Tributaria concentre el control en contribuyentes de mayor escala.

-  Incrementar las cuantías fijas de los siguientes tributos:

* Impuesto sobre el transporte terrestre según el tipo de vehículo, su valor, combustible, entre otros aspectos.

* Impuesto sobre embarcaciones.

* Impuesto sobre documentos.

* Impuestos ambientales.

* Tasa de radicación de anuncios y propaganda comercial.

-  Diseñar tarifas arancelarias e incentivos que favorezcan los procesos productivos nacionales y la importación de materias primas, materiales, tecnologías y equipamiento para el uso de fuentes renovables de energía.  

EJE 13: TRANSFORMACIONES EN LA POLÍTICA DE PRECIOS

-  Descentralizar la facultad de aprobación de precios y tarifas a las empresas y a las administraciones territoriales y locales.

-  Eliminar la formación de precios por el método de gastos y establecer para su formación el precio de referencia del mercado o por correlación, marcando su posición en la cadena de valor.  

EJE 14: TRANSFORMACIONES EN LA INVERSIÓN EXTRANJERA

-  Estimular la participación de inversión extranjera en empresas privadas y cooperativas, mediante la creación de empresas mixtas y contratos de asociación económica internacional.

-  Extender el límite del otorgamiento de derechos de superficie hasta 99 años y de derechos de usufructo por más de 50 años para la inversión extranjera.

-  Permitir que los negocios con capital extranjero, en cualquier modalidad, puedan abrir cuentas bancarias en el exterior, sin necesidad de autorización. En todos los casos notificar al Banco Central de Cuba y a la Oficina Nacional de Administración Tributaria.

-  Permitir que los negocios inmobiliarios puedan realizar operaciones de compraventa de unidades residenciales.

-  Eliminar el uso obligatorio de entidades empleadoras para seleccionar y contratar al personal.

-  Permitir que la inversión extranjera disponga de sus ingresos en divisas, opere con flexibilidad en un entorno de dolarización parcial de la economía y permita su acceso al mercado cambiario.

-  Reducir la documentación, plazos, así como descentralizar la aprobación de la inversión extranjera, lo que incluye aplicar el silencio administrativo positivo. Este último será aplicado en todos los procesos permisológicos del país relacionados con la expedición de licencias para actividades económicas, financieras y comerciales con efecto directo en la actividad registral.

-  Permitir la inversión extranjera en La Habana Vieja y otras zonas patrimoniales.  

EJE 15: TRANSFORMACIONES EN EL COMERCIO EXTERIOR

-  Fomentar las exportaciones de bienes y servicios que, mediante la descentralización de facultades de exportación, incentivos diferenciados e integración productiva con el capital extranjero, eleve el valor total de las exportaciones para lograr una balanza comercial de bienes y servicios superavitaria de forma sostenida.

-  Aplicar el principio de nomenclatura negativa para las empresas que realizan comercio exterior, incluyendo la inversión extranjera.

-  Permitir que las empresas privadas y cooperativas realicen directamente actividades de comercio exterior, previa autorización del Ministerio del Comercio Exterior y la Inversión Extranjera.

-  Aprobar que las instituciones puedan vender marcas y patentes en el mercado internacional, previa autorización.  

EJE 16: ALCANCE DE LA DOLARIZACIÓN PARCIAL DE LA ECONOMÍA

-  Ampliar el alcance de la dolarización parcial de la economía en las operaciones interempresariales y comerciales, acorde a la situación actual.

-  Modificar la actual concepción de los esquemas cerrados de autofinanciamiento en divisas hacia un esquema de aportes a partir de las transacciones en divisas. 

EJE 17: TRANSFORMACIONES EN EL SECTOR DEL TURISMO

-Adicionar a las modalidades de negocios ya existentes (empresa mixta y contratos de administración) para todas las actividades turísticas:

* Los arrendamientos.

* Otorgamiento de derechos reales de usufructo con carácter oneroso.

* Concesión de áreas con activos o en desarrollo en diferentes regiones del país, y la venta de inmuebles (aprobación caso a caso).

Tanto para inversionistas extranjeros, cubanos residentes en el exterior y en el territorio nacional.

-Incluir en la Cartera de Oportunidades de Negocios determinadas áreas del país como Zonas de Desarrollo Económico, donde se establecen regímenes especiales. 

-Permitir la aplicación de todas las modalidades de negocios, en los cayos, zonas patrimoniales de la Habana Vieja y Trinidad, así como en todos los destinos turísticos del país donde estos modelos sean beneficiosos para el sector y se requiera la inversión extranjera para su desarrollo.

-Permitir el desarrollo inmobiliario en todas las zonas turísticas del país, donde se requiera este tipo de negocios. Establecer la posibilidad de desarrollar negocios de naturaleza inmobiliaria en zonas de la ciudad de La Habana y otras zonas urbanas del país vinculadas a la actividad turística.

-Permitir la modalidad de empresas mixtas y arrendamiento para la negociación de las marinas turísticas.

-Aprobar para todos los actores económicos beneficios tributarios y fiscales para proyectos de ecoturismos y otras modalidades de turismo especializado con la finalidad de atraer inversión extranjera y diversificar el desarrollo turístico, sostenible y responsable. 

-Crear un banco corporativo online para el sector turístico con vínculos en el exterior y que promueva los servicios de activos virtuales. 

-Actualizar la actividad de renta de autos (que hoy es exclusiva de dos empresas en el país) a otras empresas estatales, a la inversión extranjera y a las formas de gestión no estatal. 

-Actualizar la constitución de agencias de viaje a empresas mixtas, 100 % extranjera, así como formas de gestión no estatal. 

-Autorizar los guías de turismo y agentes de ventas privados, previa autorización por el alto nivel de especialización que requiere esta actividad. 

-Aprobar gestores de destinos locales que sean capaces de integrar a todos los actores, y sean capaces de garantizar que el modelo de gobernanza mixta funcione. 

-Evaluar el cobro de un impuesto especial –que hoy no existe– o contribución para todos los que hagan turismo en una zona o polo turístico, y destinarlo a la sostenibilidad, mantenimiento y promoción de esta zona. 

-Promover las franquicias en el exterior de marcas cubanas, como una vía para generar ingresos, por ejemplo: las Casas Cuba, las Casas del Habano, la Bodeguita del Medio, el Floridita y Tropicana.  

EJE 18: TRANSFORMACIONES EN EL TRANSPORTE

-Eliminar la restricción establecida para la adquisición de vehículos por los diferentes actores económicos y personas naturales, así como los plazos establecidos, estimulando la movilidad eléctrica fotovoltaica.

-Autorizar la importación directa sin carácter comercial, por parte de las personas naturales de un auto 100 % eléctrico. Siempre que se acompañe de su correspondiente estación de carga con fuente renovable de energía con cobertura total, se exonera del pago de los impuestos y aranceles.

-Permitir la importación directa con carácter comercial, para el ensamblaje y comercialización de vehículos eléctricos de las clases ciclomotor, motocicletas y triciclos, a las personas jurídicas estatales y no estatales que se autoricen. Siempre que se acompañe de su correspondiente estación de carga con fuente renovable de energía con cobertura total, se exonera del pago de los impuestos. 

EJE 19: TRANSFORMACIONES EN EL COMERCIO, LA GASTRONOMÍA Y LOS SERVICIOS

-Modificar la política sobre la gestión administrativa estatal del comercio, la gastronomía y los servicios, dando prioridad a las formas de gestión no estatal y a las modalidades de inversión extranjera.

-Reordenar el comercio mayorista priorizando la creación de mercados de abasto con acceso directo de personas naturales y jurídicas. No poner límites a los actores que realicen esta actividad.

-Autorizar la comercialización y prestación de servicios por entidades extranjeras radicadas en el país, incluyendo sucursales y representaciones.

-Crear cadenas de tiendas, de restaurantes y red de gastronomía ligera de marcas reconocidas u otras, que se extiendan por todo el país.

-Invitar a franquicias de alimentos ligeros a invertir en el país.

-Licitar a empresas estatales, extranjeras, privadas y cooperativas parques recreativos, zoológicos, acuarios, áreas protegidas y unidades de alojamiento, fijando las condiciones para su explotación, incluyendo porcientos de ventas en pesos y en divisas.

-Formalizar, en las comunidades, vendedores en diversas modalidades, habilitar carné de «vendedor ambulante» y aplicar un régimen simplificado de impuestos.

-Estimular las compras públicas mayoristas y minoristas, utilizando como capital de trabajo el fondo presupuestario de compras públicas y créditos bancarios.

-Crear un sistema automatizado, digital, auditable y público para la licitación de locales y activos a todos los actores económicos.

-Transitar de la canasta familiar normada, a las ventas controladas sin subsidios en la red de comercio.

-Autorizar a las personas naturales a realizar importaciones con carácter comercial, gravando los aranceles en divisas. No implica otorgar facultades de comercio exterior. 

EJE 20: TRANSFORMACIONES EN LA POLÍTICA DE SEGUROS

-Reconocer la rentabilización de los recursos financieros que se movilizan en la actividad de seguros.

-Crear el seguro de vida con carácter complementario a las protecciones de la seguridad social.

-Dinamizar la comercialización de pólizas en divisas en protecciones de riesgos sobre transporte, viajes y gastos médicos.

-Regular con carácter obligatorio el seguro de responsabilidad civil para conductores de vehículos. 

EJE 21: TRANSFORMACIONES DIGITAL, INTELIGENCIA ARTIFICIAL Y ECONOMÍA DEL CONOCIMIENTO

- Establecer el marco nacional de interoperabilidad obligatoria, gobernanza de datos, inteligencia artificial y equidad territorial.

- Aplicar un sistema de remuneración competitivo que tribute al impulso de la exportación de servicios profesionales en tecnologías digitales e inteligencia artificial.

- Permitir la inversión extranjera en la ampliación de las capacidades de data center de Etecsa.

- Permitir al sector privado brindar servicios de centros de datos que no alojen plataformas de gestión de infraestructuras críticas del país, la fabricación de equipos, así como instalación de redes móviles y fijas, comercialización triple play, centros de datos, servicios de nube, telefonía IP y centros de contacto.

- Establecer una plataforma digital con el uso de inteligencia artificial para el sistema de compras públicas y las licitaciones, que garantice transparencia, seguridad e incluya clasificación de riesgos.

- Permitir gestión mixta de infraestructura postal y logística de última milla.

- Reconocer el dato como el quinto factor de producción (junto a tierra, trabajo, capital y capacidad empresarial), lo que implica que se considere como recurso económico no renovable, con capacidad de generar riqueza. 

EJE 22: TRANSFORMACIONES EN EL SISTEMA ESTADÍSTICO NACIONAL

- Diseñar un sistema estadístico que se ajuste a las transformaciones económicas y sociales.

- Culminar el cambio del año base de las Cuentas Nacionales.

- Retomar la construcción de los índices de precios al productor y de comercio exterior, manteniendo el de precios al consumidor, unido a los productos derivados de los precios observados. 

EJE 23: TRANSFORMACIONES EN LOS MECANISMOS DE CONTROL E INSPECCIÓN

- Crear un grupo de trabajo, por su importancia y transversalidad, conducido por el Comité Central del PCC e integrado por la ANPP, la Fiscalía General de la República, la Contraloría General de la República, el Tribunal Supremo Popular, el Consejo de Ministros (DAOLPP, DSPOD y Departamento de Prevención al Delito), el MININT y el MINJUS, a fin de analizar lo establecido en materia de control y realizar propuestas de transformaciones.

De manera preliminar, se identificó que la implementación de las transformaciones impacta a más de 148 disposiciones del ordenamiento jurídico cubano:

■ 15 normas por derogar.

■ 22 normas por modificar totalmente.

■ 79 normas por modificar parcialmente.

■ Más de 50 normas complementarias de menor rango (resoluciones).

Adicionalmente, será necesario elaborar 32 nuevas normas de rango superior (10 leyes, 14 decretos-leyes y 8 decretos).

El primer ministro de Cuba, Manuel Marrero Cruz, afirmó que las propuestas de transformaciones económicas y sociales se desarrollan en correspondencia con el Programa de Gobierno para 2026, al considerar que ambas estrategias son complementarias y responden a las condiciones objetivas de la economía y la dinámica sociodemográfica actual.

Según explicó, el 76 % de estas transformaciones se corresponde plenamente con el contenido del programa, mientras que el resto lo amplía, integrando cambios en el tejido empresarial, mayor apertura al capital privado nacional y extranjero, modernización del sistema bancario, coherencia entre reformas cambiarias, tributarias y de precios, así como la descentralización territorial y el redimensionamiento de la administración central del Estado.

Marrero Cruz subrayó que estas transformaciones no implican renunciar a la responsabilidad social del Estado, sino que incorporan un reconocimiento de mecanismos de mercado como instrumentos de asignación eficiente de recursos.

Asimismo, señaló que entre los principales retos para la implementación se encuentran la definición de una secuencia operativa y cronograma adecuado, el fortalecimiento de capacidades institucionales, la protección social, la legitimación jurídica y la participación ciudadana, además de la mitigación de riesgos geopolíticos.

El Primer Ministro indicó que durante la ejecución del proceso se presentarán contradicciones a resolver, entre ellas el impacto de la dolarización parcial en la evaluación económica, la eliminación de subsidios y su relación con los precios, así como la descentralización de competencias sin suficiente capacidad municipal y la liberación de precios agrícolas sin un incremento proporcional de la producción.

En este sentido, afirmó que el proceso de implementación será flexible, con revisión constante, adopción de acciones correctivas y un sistema de aprendizaje dirigido a cuadros y directivos.

Marrero Cruz destacó, además, que las propuestas buscan enfrentar la actual crisis económica mediante una ventana de transformación estructural, cuya no implementación podría generar consecuencias irreversibles en el orden político y social.

Finalmente, reiteró que estas medidas no constituyen una desviación del proyecto socialista, sino que responden a la lógica de su desarrollo, en un contexto en el que Cuba continúa la construcción del socialismo guiado por las ideas de Fidel y Raúl. 

EN LA VOZ DE LOS DIPUTADOS 

El diputado Danhiz Díaz Pereira afirmó que entre los principales sentimientos que suscita el análisis del documento sobre las transformaciones económicas y sociales, se encuentran la defensa del socialismo y la voluntad de construir un país más desarrollado, con dignidad plena para todos los ciudadanos.

Consideró que las propuestas constituyen una oportunidad para avanzar hacia un modelo capaz de garantizar una educación de calidad, mejores universidades, mejores salarios para maestros y trabajadores, así como una salud universal con mejores instituciones y disponibilidad de medicamentos.

Entre sus planteamientos, propuso que en la transformación 63, referida al proyecto de la plataforma Soberanía, se precise que constituye una vía adicional para la identificación de personas vulnerables y no la única, teniendo en cuenta que el Ministerio de Trabajo y Seguridad Social dispone de otros mecanismos para ese fin.

Valoró positivamente el reconocimiento del aporte social que pueden realizar las empresas y consideró que debe hablarse de un único sistema empresarial en Cuba. Sugirió, además, incluir entre los beneficiarios de oportunidades de empleo, capacitación y aprendizaje a las personas que desempeñan funciones de cuidado.

Propuso igualmente que en las disposiciones sobre la habilitación de espacios privados como puntos de acopio y distribución se incorporen crisis específicas, que no necesariamente constituyen situaciones de emergencia.

Díaz Pereira comentó, en lo relacionado con la creación de un fondo de protección social y la implementación de una reforma integral de salarios, que son prioridades que deben materializarse antes de ejecutar otras transformaciones para evitar mayores afectaciones a la población.

En cuanto a la eliminación de prohibiciones administrativas para el ejercicio del empleo por parte de profesores y médicos, sugirió precisar el concepto de funcionario para una mejor comprensión de su alcance.
Resaltó que más de 10 medidas del documento incluyen de manera explícita a las juventudes, en coherencia con la política aprobada para este sector.

Entre las acciones complementarias propuestas, planteó crear un canal de comunicación, incluso apoyado en inteligencia artificial, que permita a la población aclarar dudas sobre las transformaciones; revisar los procedimientos de la política de cuadros para potenciar la presencia de los mejores dirigentes en los municipios; y convocó a los ministerios de Educación y Educación Superior a adecuar planes y programas de estudio a las nuevas realidades.

Asimismo, propuso completar un registro único nacional de empleo, centralizado y digital, que facilite la gestión de información laboral.

El diputado insistió en la necesidad de fortalecer las capacidades de gestión de los municipios y señaló experiencias positivas en La Habana, donde ministros y viceministros han acompañado directamente a las autoridades locales para transmitir habilidades y competencias de dirección.

Manifestó preocupación por los riesgos de corrupción y tráfico de influencias asociados a las nuevas medidas, aunque afirmó que no se debe temer a las transformaciones, sino fortalecer los mecanismos de control y protección social. En ese sentido, subrayó la importancia de preservar los derechos laborales y continuar perfeccionando las garantías existentes.

Finalmente, enfatizó que la comunicación sobre las transformaciones constituye una responsabilidad compartida y afirmó que los 470 diputados, junto con los organismos e instituciones, tienen el deber de explicar al pueblo el alcance de las medidas. Destacó la necesidad de prestar especial atención a la juventud cubana y expresó la confianza en la capacidad del país para salvar la Patria, la Revolución y el socialismo.

El diputado Carlos Miguel Pérez Reyes expresó que, pese a la política de máxima presión ejercida contra Cuba, el país mantiene su firmeza en la defensa de la Patria y de su modelo social y económico. No obstante, afirmó que junto a los efectos del bloqueo existen trabas internas que corresponde eliminar y destacó que varias de las transformaciones presentadas han sido propuestas durante años.

Subrayó que cambiar no significa renunciar al socialismo, sino defender las condiciones reales del país, y sostuvo que no puede existir una justicia social verdadera sobre una economía que no produce. En ese sentido, respaldó las transformaciones presentadas por favorecer una mayor autonomía de la empresa estatal y abrir espacios a todos los actores económicos, al tiempo que destacó la visión de un único sector empresarial cubano integrado por formas estatales, cooperativas, privadas y extranjeras.

Durante su intervención, realizó varias observaciones al documento analizado. En relación con las transformaciones vinculadas con la propiedad estatal, la gestión no estatal y la transmisión de activos, consideró necesario definir con precisión el concepto de medios fundamentales de producción y evitar formulaciones abiertas sobre la gradualidad de las transformaciones.

Propuso revisar el punto 32 para evitar contradicciones entre la propiedad pública sobre los medios fundamentales de producción y el avance de formas de gestión no estatal sobre estos. Asimismo, sugirió eliminar la palabra «privada» del punto 23 y precisar que una misma persona natural podrá contar con participaciones accionarias y sociales en más de una empresa.

En cuanto al punto 56, llamó a precisar el alcance de la contribución adicional del 1 % vinculada al combustible, al considerar que la acumulación de diversos gravámenes puede encarecer un producto de alta sensibilidad para la población.

Respecto al sistema tributario, propuso que mientras no se implemente el impuesto sobre el valor agregado y la facturación electrónica se elimine el impuesto sobre las ventas y los servicios mayoristas, al considerar que incrementa los costos en las cadenas de valor.

En materia bancaria, planteó incluir de forma explícita al sector privado cubano entre los actores con capacidad para realizar cobros en el exterior, en igualdad de condiciones con otros sujetos económicos.

El diputado señaló cinco elementos indispensables para el éxito de las transformaciones: la rendición de cuentas públicas sobre los avances y dificultades; la implementación ágil de las medidas; la participación activa de economistas, universidades, empresas, gobiernos locales y la población; la atención a quienes ejecutan los cambios; y la necesidad de subsidiar a las personas y no a los productos, acompañando estas acciones con una elevación de ingresos.

También convocó al sector privado cubano a fortalecer su responsabilidad social mediante el apoyo, en la medida de sus posibilidades, a jubilados, sistemas de atención a la familia, hogares de niños sin amparo parental, casas de abuelos, círculos infantiles y otros sectores vulnerables. Consideró que los aportes de este sector deben organizarse para convertirlos en una fuerza concreta al servicio del pueblo.

Al concluir, expresó que el mayor riesgo no es transformar demasiado, sino hacerlo a medias, y llamó a avanzar unidos, con el pueblo y para el pueblo, en la producción, las transformaciones y el desarrollo del país.

«Como he dicho en varias ocasiones, esto sí es aplicar el concepto de Revolución», afirmó por su parte, el diputado Emilio Interián Rodríguez, quien reconoció el trabajo realizado en la elaboración de las propuestas y llamó a actuar con rapidez, sin burocracia ni temores, para implementar las transformaciones y contribuir a superar la compleja situación que enfrenta el país.

Al referirse al sector agropecuario, consideró que las medidas presentadas responden a muchos de los problemas que han limitado el crecimiento de la producción de alimentos. Destacó las transformaciones relacionadas con la comercialización, la contratación y la formación de precios, y señaló que estos deben corresponderse con los costos reales para estimular a los productores y recuperar renglones afectados, entre ellos la ganadería.

Subrayó la importancia de mantener estímulos fiscales a la producción y de favorecer la importación de insumos y materias primas mediante políticas arancelarias e impositivas que permitan reducir costos y aumentar la competitividad de las producciones nacionales. Puso como ejemplo la producción porcina, cuyo desarrollo, dijo, puede beneficiarse de un mayor aprovechamiento de las materias primas disponibles en el país y de la obtención de productos de mayor calidad.

Interián Rodríguez calificó de revolucionarias las transformaciones asociadas al uso y tenencia de la tierra. Consideró necesario ampliar el acceso a áreas ociosas para productores con resultados demostrados y eliminar limitaciones que obstaculizan la incorporación de nuevas tierras a la producción.

Llamó también a revisar la situación de las deudas pendientes con los productores agropecuarios, al considerar que los atrasos en los pagos afectan la motivación y constituyen un elemento que requiere atención.

El diputado destacó que las nuevas medidas demandan una mayor iniciativa de los productores y la búsqueda de alternativas propias mediante encadenamientos productivos y otras formas de gestión, en correspondencia con las orientaciones dirigidas a incrementar la producción nacional.

Acentuó que las transformaciones económicas y sociales responden a decisiones soberanas del país y aseguró que cualquier cambio futuro continuará realizándose bajo la premisa de preservar la independencia nacional y el socialismo.

Como parte del debate, la diputada Laura Marian Bacallao Padrón alabó propuestas innovadoras como la 66 y 69 asociadas al Eje de las Transformaciones Sociales que necesitan un responsable para llevarse a cabo y sugirió valorar la posibilidad de explicar las transformaciones a la población para un mayor entendimiento y evitar tergiversaciones.

Asimismo, el diputado por Santiago de Cuba, Francisco Ricardo Sagaró, propuso estimular el pago por el cumplimiento de indicadores y diferencias salariales que estimulen, entre otros, el estudio de carreras y pago por desempeño.  

Por otra parte, la diputada Ailyn Febles aseguró que son transformaciones para todos los cubanos y no unos pocos, medidas que permitirán, a pesar del bloqueo, «más socialismo a la cubana».

Reconoció que todas las empresas son nacionales y el funcionamiento del sistema empresarial tiene que estar reflejado sobre la base del socialismo y resaltó la importancia del intercambio directo con la población por la importancia de estas medidas.

De igual forma, Ana Teresa Igarza sostuvo que el reto fundamental de las transformaciones está en su implementación y mantener el diseño fundacional del Comandante en las conquistas alcanzadas.

Consideró que es el momento, a partir de las transformaciones, de hablar de la Ley de Empresas al existir un cúmulo de actores y sobre la plataforma de encadenamiento productivo destacó que es aplicable a todo el sector empresarial.

Propuso que las mipymes no se evalúen por la cantidad de trabajadores sino por los ingresos que reciben y la rentabilidad de los mismos. 

En otro momento, la diputada Leydis María Labrador comentó sobre el aseguramiento jurídico de las propuestas y transformaciones, teniendo en cuenta que la Constitución respalda las medidas, y consideró que, desde los fundamentos políticos de la Carta Magna, existe una manera de refrendar estas propuestas.

El diputado José Carlos del Toro Ríos, presidente de la Asociación Nacional de Economistas y Contadores de Cuba (ANEC), destacó que las propuestas presentadas son también resultado de los análisis y aportes realizados por los economistas cubanos. Señaló que existe un compromiso de la organización con el proceso de comunicación de las transformaciones y con el seguimiento a su implementación, para contribuir a la identificación y mitigación de riesgos. Asimismo, expresó su respaldo a las transformaciones y ratificó la voluntad de avanzar en defensa del socialismo, bajo la premisa planteada por el Comandante en Jefe Fidel Castro Ruz de cambiar todo lo que deba ser cambiado para preservar lo esencial. 

Al intervenir en el debate, el Primer Secretario del Comité Central del Partido y Presidente de la República, Miguel Díaz-Canel Bermúdez, subrayó que las transformaciones económicas y sociales propuestas no significan una renuncia al socialismo, sino la búsqueda de cómo continuar construyéndolo en las condiciones específicas de Cuba, un país que ha enfrentado durante décadas el bloqueo impuesto por Estados Unidos.

Señaló que se trata del socialismo cubano y explicó que las propuestas son resultado de los aportes de los economistas, del estudio de las experiencias de otros países socialistas y del amplio debate desarrollado en el país durante años. 

Recordó que muchas de las medidas ya estaban contenidas en la primera versión de los Lineamientos y consideró que, independientemente del complejo escenario actual, el país debía avanzar hacia estas transformaciones.

«Hemos llegado a un momento de madurez, de reflexión, propio del debate que en todos estos años se ha desarrollado, que nos está diciendo que teníamos que seguir defendiendo el socialismo, pero construyéndolo con algunas transformaciones», expresó.

Díaz-Canel señaló que, incluso en un contexto económico más favorable, hubiera sido necesario emprender estos cambios, aunque en circunstancias más cómodas. Añadió que el principal desafío es preservar y ampliar la justicia social construida por la Revolución, para lo cual resulta imprescindible contar con una economía capaz de generar los recursos necesarios.

«Todos hablamos de que hay que mantener la justicia social, pero lo primero que hay que hacer es producir. Si no producimos, si no generamos riqueza, si no damos servicios de calidad que sean inclusivos y abarcadores, ¿qué justicia social vamos a defender?», reflexionó.

El mandatario afirmó que la justicia social requiere de una base económica sólida y enfatizó que la prioridad es trabajar, producir y crear riqueza. «En condiciones tan difíciles solo hay una manera de hacerlo bien: innovando», concluyó.

Al intervenir al cierre del intercambio, el miembro del Buró Político y primer ministro, Manuel Marrero Cruz, destacó la profundidad de los análisis realizados tanto en el Buró Político como en el Pleno del Comité Central del Partido y en la sesión extraordinaria de la Asamblea Nacional, y resaltó el carácter enriquecedor y transformador del debate.

Subrayó que las intervenciones de los diputados no se limitaron al respaldo de las propuestas, sino que incorporaron planteamientos concretos que implican modificaciones e incluso nuevas transformaciones. En ese sentido, informó que el grupo de trabajo encargado de elaborar el documento comenzará de inmediato un proceso de reconstrucción para incorporar las propuestas, opiniones y criterios aportados durante el análisis, con vistas a conformar un documento único.

Marrero Cruz precisó que las transformaciones presentadas constituyen el «qué» y que corresponde ahora desarrollar el «cómo»; es decir, los mecanismos para su implementación y la definición más precisa de sus alcances. Señaló que muchos de los planteamientos realizados por los diputados forman parte precisamente de esa etapa de ejecución, donde deberán concretarse y ampliarse las medidas para que puedan apreciarse sus resultados.

Reconoció que se trata de un proceso arduo y complejo, que demanda una conducción rigurosa y una articulación entre diversas instituciones. Explicó que, por decisión adoptada al más alto nivel, corresponde al Gobierno dirigir y conducir todo el proceso de implementación; a la Asamblea Nacional del Poder Popular y a su presidente, Esteban Lazo Hernández, acompañar jurídicamente las transformaciones; y al miembro del Buró Político y secretario de Organización del Comité Central del Partido, Roberto Morales Ojeda, asumir personalmente el aseguramiento político del proceso.

El Primer Ministro subrayó que la máxima dirección del país ha asumido la responsabilidad de conducir integralmente el proceso que se desprende de las transformaciones económicas y sociales propuestas.

El miembro del Buró Político y secretario del Consejo de Ministros, José Amado Ricardo Guerra dio lectura a una carta enviada por el General de Ejército Raúl Castro Ruz, en la que expresó su respaldo a las transformaciones económicas y sociales propuestas. En el mensaje, el líder al frente de la Revolución manifestó su coincidencia con las medidas presentadas y su convicción de que estas contribuyen al propósito de fortalecer el socialismo y preservar las conquistas alcanzadas en las complejas circunstancias que enfrenta el país.

Bacardi Loses Appellate Decision To Cubaexport, But Victory May Be Brief As 2024 U.S. Law Prevents Trademark Renewal

UNITED STATES COURT OF APPEALS FOR THE FOURTH CIRCUIT

No. 25-1355 (1:21-cv-01441-LMB-IDD)

BACARDI & COMPANY LIMITED; BACARDI USA, INC., Plaintiffs – Appellants v. JOHN A. SQUIRES, in his official capacity as the Director of the United States Patent & Trademark Office; UNITED STATES PATENT & TRADEMARK OFFICE, Defendant – Appellee, and EMPRESA CUBANA EXPORTADORA DE ALIMENTOS Y PRODUCTOS VARIOS, Intervenor/Defendant - Appellee

J U D G M E N T

In accordance with the decision of this court, the judgment of the district court is affirmed.

RICHARDSON, Circuit Judge: This spirited trademark dispute lands before our Court yet again. In 2005, Cubaexport applied to renew a trademark registration with the United States Patent and Trademark Office (PTO). But Cubaexport’s payment of renewal fees was legally void without a specific license issued by the Treasury’s Office of Foreign Assets Control (OFAC). For over a decade, OFAC refused to issue that license. Then, in 2016, it issued a license retroactively authorizing Cubaexport’s 2005 payment. Based on the issuance of that license, the PTO approved Cubaexport’s renewal filing. Bacardi argues that the PTO exceeded its statutory authority and acted arbitrarily and capriciously by granting renewal ten years after the renewal deadline. We disagree. OFAC’s 2016 license validated Cubaexport’s 2005 payment, removing the sole legal obstacle to renewal. So we affirm.

Link To Opinion In PDF Format

12/09/2025 ORAL ARGUMENT heard before the Honorable Paul V. Niemeyer, Julius N. Richardson and Allison J. Rushing. Attorneys arguing case: David Meir Zionts for Appellants Bacardi and Company Limited and Bacardi USA, Incorporated, Carl Jonas Micarelli for Appellee Empresa Cubana Exportadora de Alimentos y Productos Varios and Weili Justin Shaw for Appellees United States Patent & Trademark Office and Coke Morgan Stewart. Courtroom Deputy: E. Borneisen. [1001890787] [25-1355] JK 

06/15/2026 ORDER filed substituting party John A. Squires for Coke Morgan Stewart. Copies to all parties. [1001997220] [25-1355] TW 

06/16/2026 PUBLISHED AUTHORED OPINION filed. Originating case number: 1:21-cv-01441-LMB-IDD. [1001997669] [25-1355] KH 

06/16/2026 PUBLISHED JUDGMENT ORDER filed. Decision: Affirmed. Originating case number: 1:21-cv-01441-LMB-IDD. Entered on Docket Date: 06/16/2026. Copies to all parties and the district court/agency. [1001997688] [25-1355] KH

Will G7 Discuss Cuba? Three Have Companies Impacted By Trump Administration Decisions Beginning In 2019 And Accelerating In 2026. Ten Located In EU. Probably Giving Carte Blanche.

Will G7 Discuss Cuba? Three (Canada, France, Germany) Have Companies Impacted By Trump Administration Decisions Beginning In 2019 And Accelerating In 2026 

Ten Companies Are Located In The European Union 

Collective Hostility In 2019 And Again In 2026, But No Push Back  

If G7 members (United States, Germany, Japan, United Kingdom, France, Italy, Canada), including the United States, do not address issues relating to the Republic of Cuba, the message to Donald Trump, President of the United States (2017-2021 and 2025-2029) will take from the silence is he has carte blanche to due what he wants with the 800-mile long archipelago with approximately 10 million inhabitants located 93 miles south of Key West, Florida. 

  • “Carte blanche means having complete, unconditional authority or full discretionary power to act as you see fit. It translates from French literally as “white card” or “blank paper”—symbolizing a signed, blank document where the holder is trusted to fill in the terms.”  

Thus far in 2026, companies located in Australia, Canada, France, Germany, Indonesia, and Spain among others have abandoned, contracted, severed, or suspended their operational relationships with Republic of Cuba government-operated companies. 

Ten companies located in the Brussels, Belgium-based European Union (EU) are or remain defendants in lawsuits filed in United States District Courts beginning in 2019. 

  • EU: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.  

  • The Trump-Pence Administration (2017-2021) on 2 May 2019 made operational Title III of the Cuban Liberty and Democratic Solidarity Act of 1996 (known as “Libertad Act”).  

  • Title III authorizes lawsuits in United States District Courts against companies and individuals who are using a certified claim or non-certified claim where the owner of the certified claim or non-certified claim has not received compensation from the Republic of Cuba or from a third-party who is using (“trafficking”) the asset.   

The Group of Seven (G7) consists of countries based upon their GDP and the type of political system- defined as democracies. 

  • 2026 G7: (2014-Present) United States, Germany, Japan, United Kingdom, France, Italy, Canada, and European Commission (president) and European Council (president).  The Russian Federation (2025 GDP ranks 8th) was excluded in 2014 due to its military actions (annexation) of the Crimean Peninsula in Ukraine.  NOTE: Spain is  considered a “permanent guest” at G7 Leaders’ Summits despite ranking 12th in 2025 GDP.  Spain is not participating in the 2026 G7 Leaders’ Summit.

  • The G7 has seven country members and two representatives of the EU- European Commission (president) and European Council (president).  Dr. Ursula von der Leyen is president (2019-2029) of the European Commission and Antonio Costa is president (2024-2029) of the European Council.    

Link To Related Analyses 

For Cuba, 5 June 2026 Is 21st Century D-Day. President Trump Hitting G7 Members Canada, France, Germany.  And, A Particular Favorite G7 Guest, G20 Member, And NATO Member Spain June 3, 2026

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

Issues With 2026 Vanguard Energy Transaction With Cuba Reminds Of 2018 MLB Failure And 2022 PYME Financing/Investment Success. Obvious Signals. Lack Of Engagement?

Issues With 2026 Vanguard Energy Transaction With Cuba Reminds Of 2018 MLB Failure And 2022 PYME Financing/Investment Success 

Two Obvious Issues And Signals: Payments To Cuba Company Which Is Defendant In Libertad Act Lawsuit Now Before United States Supreme Court And Logical Trajectory Of SDN Listings 

Ill-Advised To Assume A Cuba-Related Transaction Is Authorized.  Best Strategy Is First Directly Engage With BIS, OFAC, OCA, OLA, NSA Before Going Public 

There are commonalities from June 2026, May 2022, and December 2018, where each reflects how companies, consultants, legal counsel, and organizations determined their licensing and negotiation strategies with the Bureau of Industry and Security (BIS) of the United States Department of Commerce, Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury, Office of Cuban Affairs (OCA) and Office of the Legal Advisor (OLA) at the United States Department of State, and the National Security Council (NSC) in The White House. 

The efforts in December 2018 and June 2026 were derailed by lack of engagement with the BIS, OFAC, OCA, OLA, and NSC.  

The efforts of May 2022 were successful because of engagement with the BIS, OFAC, OCA, OLA, and NSC.   

Successful strategies for Republic of Cuba-related transactions have in common the attorneys, companies, consultants, and organizations engage early and often with the BIS, OFAC, OCA, OLA, and NSC.   

This engagement is critical even when there may be policy, precedent, regulation, and statutory basis not to require engagement.  Meaning, portions of the transaction or the transaction itself is deemed permissible under general licenses- not requiring specific written authorization. 

The June 2026 OFAC issue for Coral Gables, Florida-based Vanguard Energy compares with the December 2018 OFAC issue when New York, New York-based Major League Baseball (MLB) executed an agreement with Republic of Cuba-based Federacion Cubana de Beisbol (FCB) which included payments to FCB rather than payments-in-kind, meaning equipment, etc.  

MLB retained a former NSC official in the Obama-Biden Administration (2009-2017) who should have known that potential payments of millions of United States Dollars to an instrumentality of the government of the Republic of Cuba would be problematic and a solution may be to use the funds to purchase products and then export those products to the Republic of Cuba.  Upon the MLB agreement becoming public, officials within the Trump-Pence Administration (2017-2021) rejected the MLB agreement because it provided funds to the government of the Republic of Cuba.  From the OFAC (19 April 2029) to attorneys for MLB: 

  • “We are writing to update you on the applicability of a general license under the Cuban Assets Control Regulations, 31 C.F.R. Part 515 (CACR), to the activities of the Office of the Commissioner of Major League Baseball (MLB). In September 2016, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) provided written guidance to MLB with respect to various proposed activities involving Cuba and the Cuban Baseball Federation.1 In particular, OFAC indicated that certain payments from MLB to the Cuban Baseball Federation were authorized by a general license found at section 515.571(e) of the CACR.”  

  • “The CACR, administered by OFAC, prohibit all persons subject to the jurisdiction of the United States from dealing in property in which Cuba or a Cuban national has an interest except as authorized or exempt. Section 515.571(e) of the CACR authorizes transactions related to the sponsorship or hiring of a Cuban national to work in the United States in a non-immigrant status or pursuant to other non-immigrant travel authorization by the U.S. government, except that an employer may not make payments to the Cuban government in connection with the sponsorship or hiring of a Cuban national.” 

  • “In light of facts recently brought to our attention, and after consultation with the U.S. Department of State, OFAC has determined that MLB’s payments to the Cuban Baseball Federation are not authorized by section 515.571(e) of the CACR, because a payment to the Cuban Baseball Federation is a payment to the Cuban government. Additionally, no other general license in the CACR authorizes these payments. As such, MLB’s payments to the Cuban Baseball Federation are prohibited unless specifically licensed by OFAC. If MLB would like to make these payments, it may seek a specific license from OFAC.” 

One of the Members of the 115th United States Congress who opposed the MLB agreement was Marco Rubio (R- Florida), a member of the United States Senate (2011-2025). 

Last week, Vanguard Energy announced that the company would make payment(s) to lease fuel storage facilities from Republic of Cuba government-operated Union-Cuba Petroleo (CUPET).  Soon after the announcement, the OFAC listed CUPET as a Specially Designated National (SDN).  That SDN listing was anticipated.  CUPET is a defendant in a case currently before the United States Supreme Court (SCOTUS) with a decision expected soon. 

  • ”UNION CUBA PETROLEO (a.k.a. CUPET), Avenida Salvador Allende No. 666, Entre Oquendo y Soledad, Havana 10300, Cuba; Organization Established Date 25 Mar 1992; Target Type State-Owned Enterprise; Entity Code 2605 (Cuba) [CUBA-EO14404].”

  • That is why, today, I am designating Cuba’s state-owned oil and gas company Union Cuba-Petroleo (CUPET), key assets of which were unlawfully expropriated from American owners years ago, pursuant to President Trump’s Executive Order (E.O.) 14404 of May 1, 2026.  CUPET is being designated pursuant to Section 2(a)(i)(A) of E.O. 14404, for operating or having operated in the energy sector of the Cuban economy.”  Marco Rubio, United States Secretary of State

Payments to CUPET may have also been viewed by the Trump-Vance Administration through the Libertad Act Title III lawsuit filed in 2019 by Spring, Texas-based Exxon Mobil Corporation (2025 revenue approximately US$332 billion) against Republic of Cuba government-operated Corporacion Cimex S.A. and CUPET.  Unknown if Vanguard Energy interacted with Exxon Mobil Corporation.  Title III of the Liberated Act provides for private settlements by owners with those deemed to be trafficking in the asset.   

Exxon Mobil Corporation has the 8th largest certified claim against the government of the Republic of Cuba: US$71,611,002.90 and US$173,157.12. 

  • The Trump-Pence Administration on 2 May 2019 made operational Title III of the Cuban Liberty and Democratic Solidarity Act of 1996 (known as “Libertad Act”). 

  • Title III authorizes lawsuits in United States District Courts against companies and individuals who are using a certified claim or non-certified claim where the owner of the certified claim or non-certified claim has not received compensation from the Republic of Cuba or from a third-party who is using (“trafficking”) the asset.  

  • 24-699 EXXON MOBIL CORP. V. CORPORACION CIMEX, ET AL. (CUPET): “QUESTION PRESENTED: In 1960, the Cuban government confiscated the property of American nationals and transferred it to state-owned enterprises. After years without a diplomatic resolution, Congress enacted the Helms-Burton Act, which created a damages action for American nationals against "any person ... that traffics in" such confiscated property. 22 U.S.C. § 6082(a)(1). The Act defines "person" to include "any agency or instrumentality of a foreign state," id. § 6023(11), and expressly contemplates "judgment[s] against an agency or instrumentality of the Cuban Government," id. § 6082(d). The question presented is: Whether the Helms-Burton Act abrogates foreign sovereign immunity in cases against Cuban instrumentalities, or whether parties proceeding under that Act must also satisfy an exception under the Foreign Sovereign Immunities Act.  LOWER COURT CASE NUMBER: 21-7127, 22-7019, 22-7020”

  • Link: U.S. Supreme Court Agrees To Hear Two Cuba Libertad Act Cases. Trump Administration Supports Both Plaintiffs. October 03, 2025

The Biden-Harris Administration (2021-2025) directed the OFAC to issue the first license authorizing an entity subject to United States jurisdiction (not affiliated directly or indirectly with an individual of Cuban descent) to deliver a direct equity investment to and authorizing direct financing for an officially registered privately-owned company (in the service sector) located in the Republic of Cuba and owned by a Republic of Cuba national. Neither entity in the transaction is connected with the other in terms of commercial relationships or family relationships. The parties did not have connectivity prior to this transaction. 

The inter-agency review process across the United States government required approximately one year of consultations, discussions, meetings, and negotiations.  The OFAC license was issued on 10 May 2022.  

LINK TO COMPLETE ANALYSIS IN PDF FORMAT

Paul kaye

1497 Days Waiting For A Document Does Not Inspire Confidence That President Diaz-Canel Can Or Knows How To Fix The Commercial Pandemic Infecting Cuba.

Miguel Diaz-Canel, President of the Republic of Cuba (2019- ), announced a journey to restructure the commercial, economic, financial, political, and societal infrastructure of the Republic of Cuba.

4 years 1 months 5 days or 49 months 5 days or 213 weeks 6 days or 1497 calendar days and the re-emerging private sector in the Republic of Cuba awaits one page of paper…  Why?

The inter-agency review process required approximately one year with consultations, discussions, meetings, and negotiations with officials throughout the Biden-Harris Administration (2021-2025).  The Office of Foreign Assets Control (OFAC) license was issued on 10 May 2022.  

The Biden-Harris Administration directed the OFAC to issue the first license authorizing an entity subject to United States jurisdiction (not affiliated directly or indirectly with an individual of Cuban descent) to deliver a direct equity investment to and authorizing direct financing for an officially registered privately-owned company (in the service sector) located in the Republic of Cuba and owned by a Republic of Cuba national. Neither entity in the transaction is connected with the other in terms of commercial relationships or family relationships. The parties did not have connectivity prior to this transaction. 

LINK TO COMPLETE ANALYSIS IN PDF FORMAT