Controlling government & state entities
Every state asset in the atlas answers to one of these entities — and the most important ones are military-controlled (GAESA) and legally untouchable. This is the map of who you would have to deal with to take over Cuba's infrastructure, and who U.S. persons legally cannot. Sanctions flags below are computed by cross-referencing each entity against the ingested Cuba Restricted List (236 entities), the OFAC SDN list, and the Prohibited Accommodations List (429 hotels).
GAESA — Grupo de Administración Empresarial S.A.
Cuban military business conglomerate. Controls an estimated 40–80% of the economy: ports/logistics, retail (CIMEX), tourism (Gaviota), finance (FINCIMEX), import/export. The single most important — and most legally radioactive — counterparty in Cuba.
Almacenes Universales S.A. (AUSA)
GAESA logistics/warehousing subsidiary; owner of the ZED Mariel zone land and bonded warehousing.
CIMEX — Corporación CIMEX S.A.
GAESA's retail, remittance and import/export arm. Settlement that touches CIMEX/FINCIMEX is a prohibited path.
FINCIMEX S.A.
GAESA financial/remittance processor. The state settlement rail Layer-1 money must NEVER route through.
Grupo de Turismo Gaviota S.A.
GAESA tourism arm; owns/operates a large share of Cuba's hotels — most of the Prohibited Accommodations List.
Unión Eléctrica (UNE)
National electric utility under the Ministry of Energy and Mines. Owns the thermoelectric fleet, the China-backed solar program and wind farms. State-owned and embargo-restricted, though not itself on the CRL/SDN.
CUPET — Cuba Petróleo Unión
State oil & gas monopoly: refineries, the Matanzas supertanker base, onshore oil JVs. Counterparty to confiscated-refinery Title III exposure (Exxon/Belot).
Unión de Ferrocarriles de Cuba (UFC) / MITRANS
National railway operator under the Ministry of Transport. Controls the only railroad in the Caribbean plus the unfinished national expressway program.
ECASA — Empresa Cubana de Aeropuertos y Servicios Aeronáuticos
State airport authority. Operates all civil airports; Jardines del Rey is the only one part-run by a foreign operator (AENA), a template for concessions.
INRH — Instituto Nacional de Recursos Hidráulicos
National water-resources institute. Controls aqueducts, utilities and desalination; the Aguas de La Habana concession (with Agbar) is the standout PPP precedent.
Moa Nickel S.A. (Pedro Sotto Alba)
Cuban Govt 50% + Sherritt (Canada) 50% nickel/cobalt JV. Designated on the OFAC SDN list under EO 14404 (May 2026) — an active sanctions escalation.
AZCUBA — Grupo Azucarero
State sugar holding. Dozens of mills plus the cogeneration/ethanol modernization story (Ciro Redondo biomass JV is the template).
Habanos S.A.
State + foreign-partner cigar distribution monopoly. Current holder of the confiscated Cuban cigar marques (Partagás, Montecristo, H. Upmann, Romeo y Julieta, Hoyo de Monterrey).
BioCubaFarma
State biotech & pharma holding (CIGB, CIM). World-class IP; heavy sanctions sensitivity on any U.S. nexus.
GESIME — Grupo Empresarial de la Industria Sidero Mecánica
State steel & machinery group; controls Antillana de Acero, Cuba's largest steelworks.
MINCEX / ProCuba (FDI gatekeeper)
Ministry of Foreign Trade & Investment and its promotion arm. Does not own assets — it approves every foreign-investment deal and publishes the official 'Cartera de Oportunidades'. The gate every state privatization must pass through.
⚠️ 6 of 16 listed entities are on a U.S. sanctions list. State utilities/ministries not on the CRL/SDN (UNE, CUPET, INRH, ECASA) remain embargo-restricted for U.S. persons. Screening must use the live OFAC/State sources.