The U.S. Treasury Department’s Office of Foreign Assets Control announced on the 4th that it has added Cuban President Miguel Díaz-Canel, his wife, and the son of Cuban revolutionary leader Raúl Castro to its sanctions list.

U.S. Treasury Department’s Office of Foreign Assets Control

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is a financial intelligence and enforcement agency that administers and enforces economic and trade sanctions against targeted foreign countries, regimes, terrorists, and drug traffickers. Established in 1950 during the Korean War, it evolved from earlier sanctions programs and now plays a critical role in national security and foreign policy by blocking assets and restricting transactions. OFAC’s actions are based on U.S. law and international obligations, impacting global finance and diplomacy.