US sanctions Cuba’s state-owned oil, gas company

The US State Department announced sanctions against Cuba's state-owned oil and gas company Unión Cuba-Petróleo (CUPET) due to escalating tensions. Secretary of State Marco Rubio stated these measures follow President Trump's May 1 executive order targeting government officials and agents. These sanctions exacerbate Cuba's energy crises, increase the adoption of crypto, and create significant compliance challenges for global exchanges as the US expands its restrictive measures against the island country's energy sector.