RAFIN S.A.

RAFIN S.A. is the financial-management and holding Arm of GAESA (Grupo de Administracion Empresarial S.A.), the conglomerate run by Cuba's Revolutionary Armed Forces. OFAC designated RAFIN as a Specially Designated National on 23 June 2026 under Executive Order 14404, alongside Cuba's main clearing bank.

Established in 1999, RAFIN handles financial operations inside the GAESA structure, which controls an estimated 60 per cent of Cuba's hard-currency economy. The listing extends US sanctions from GAESA's hospitality and retail subsidiaries into the group's financial core.

The action forms part of a June 2026 escalation that reached the financial plumbing of the Cuban state rather than only its officials, tightening the pressure on the conglomerate that dominates the island's foreign-exchange revenue.