Historically, remittances, tourism, and professional services have provided vital income for the Cuban economy.
On Tuesday, the Central Bank of Cuba (BCC) authorized Cubamax Travel Inc., a Florida-based company, to manage remittances to the island through Cuban financial institutions and cash deliveries.
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The BCC resolution requires the appointment of a representative with permanent residency in the country. Cubamax can also deliver cash in Cuban currency or foreign currency to its beneficiaries.
The Company, headed by businessman Carlos Trujillo, also offers product shipments to Cuba. Before Cubamax, the state-owned firm Orbit managed foreign currency, but it was sanctioned by Washington.
Remittances, along with tourism and professional services, constituted a vital income for the Cuban economy until the COVID-19 pandemic. Between 2005 and 2020, remittances represented approximately 6% of Cuba’s gross domestic product (GDP).
The pandemic reduced their flow and severely impacted the inflow of foreign currency to the Caribbean country. With Donald Trump in the U.S. presidency, Cuba was reinstated on the list of State Sponsors of Terrorism, and Orbit was included among restricted entities.
🇨🇺| Presidente @DiazCanelB:
“Que cada ley, cada plan y cada presupuesto se convierta en acciones palpables en la vida de la gente. Que la ciencia y la innovación se traduzcan en soluciones concretas. Que la economía recupere su vitalidad sin renunciar a la justicia social”. pic.twitter.com/TMn3H0xwwD
— Presidencia Cuba 🇨🇺 (@PresidenciaCuba) December 31, 2025
The text reads, “President Diaz-Canel: May every law, every plan, and every budget become tangible actions in people’s lives. May science and innovation become concrete solutions. May the economy regain its vitality without sacrificing social justice.”
Western Union, which had resumed operations in 2024, suspended remittances to Cuba in February due to U.S. sanctions. It had restored services in 2022 with limitations, but suspended them again due to technical problems.
The company first suspended them in 2020 due to restrictions against the Cuban financial institution Fincimex. The U.S. sanctions make it difficult for Cuban families to receive financial support from abroad.
In January, the U.S. Secretary of State Marco Rubio announced the addition of Orbit to the list of restricted entities, alleging that it acts on behalf of the Cuban military. Trump also reactivated Title III of the Helms-Burton Act.
During his first administration, Trump implemented at least 243 restrictive measures that strengthened the economic, commercial, and financial blockade against Cuba, which intensified the pressure on the population and their sources of income.
#FromTheSouth News Bits | Cuba: The Acosta Dance Company announced that two productions by dancer and choreographer Carlos Acosta will be staged in the United Kingdom in 2026. pic.twitter.com/JX9e0mvyYx
— teleSUR English (@telesurenglish) December 26, 2025
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Source: DW – MINREX
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