Cuba denounces US targeting island’s largest economic conglomerate

Cuba's revolutionary government accused the US on Tuesday of escalating its aggression against the island by targeting the Business Administration Group (GAE), the economic conglomerate controlled by the Cuban Armed Forces.

Since its creation in the 1990s by former President Raúl Castro, GAE has served as the island's principal economic force, overseeing sectors ranging from tourism and industry to financial services. At the same time, it has been heavily criticized by detractors for its discretionary nature and vast concentration of power.

Under orders from President Donald Trump, the US has expanded economic sanctions against various actors participating in the Cuban economy, a move Cuban authorities have characterized as a direct attack on the GAE.

"The deliberate objective is to isolate the country diplomatically, commercially, financially and energetically; to make the nation's sustainability impossible; to condition dialogue; and to evaluate options for military aggression. They need to build and consolidate a narrative of reputational discredit against all the institutions that constitute the foundation of our social project," according to a statement by the Cuban government.

An executive order signed last month by Trump said Washington will impose sanctions on anyone involved in investments in Cuba, and secondary sanctions against any foreign actor that conducts operations with the GAE.

The move against the island, which Trump has vowed to "see fall," was described by Cuba as "the most intense, disproportionate and dangerous escalation in the recent history of relations between Cuba and the United States."

Although critics have described the GAE as another example of the lack of democratic oversight and the authoritarianism that characterizes daily life in a country whose economy has been heavily militarized, the group has served as an economic lifeline through which Cubans have been able to withstand the economic warfare waged by the US.

Among the achievements highlighted by the government are the construction of more than 10,000 homes in various provinces, investments in renewable energy and support for workers during the coronavirus pandemic.

"The GAE is not the product of secrecy, nor of elites, and even less a vehicle for the enrichment of a few. On the contrary, it is one of the many examples that throughout our journey has allowed us to resist the permanent aggression of the United States government," said the statement.