The Central Bank of Cuba reported on a Legal Workers Day event centered on a workshop about the impact of the United States embargo on Cuba's banking and financial system. In remarks at the event, Juana Lilia Delgado Portal highlighted the role of the bank's legal staff in turning government changes in the financial system into rules and regulations, including the creation of new types of institutions and changes to specific policies and processes. The workshop included a panel on the effects of tighter US economic, commercial and financial measures and on the economic and legal strategies used to address them. Superintendent Irma Martínez Castrillón said those measures had intensified under President Donald Trump's second term and had affected the capacity of the banking and financial system, citing Cuba's inclusion on the US list of countries sponsoring terrorism, sanctions targeting formal remittance channels, travel restrictions and reduced oil supplies. Lawyer Yohanna Padrón Vázquez also discussed the origins and legal basis of the Helms-Burton framework and the extraterritorial effect of the 1 May executive order, saying companies with links to or exports to Cuba could face retained or blocked assets, US bank accounts or business interests without prior notification.
Central Bank of Cuba2026-06-08
Central Bank of Cuba marks Legal Workers Day with workshop on US embargo impact on banking and financial system
The Central Bank of Cuba reported on a Legal Workers Day workshop examining the impact of the US embargo on Cuba’s banking and financial system and the role of legal staff in translating government financial changes into regulations. Officials outlined how tighter US economic, commercial and financial measures, including Cuba’s inclusion on the US list of state sponsors of terrorism, sanctions on remittances and travel, and the Helms-Burton framework, have constrained the banking system and exposed companies linked to Cuba to asset freezes and blocked accounts.