President Miguel Diaz-Canel accused Washington of hypocrisy during a rally in Havana. He claimed the U.S. is sabotaging Cuban private businesses while simultaneously encouraging enterprise on the island.
The June reforms allowing businesses to hire over 100 workers
The Cuban government is implementing a significant economic package that was approved by parliament in June. These reforms provide private enterprises with unprecedented latitude, including the ability to employ more than 100 workers and participate directly in financial and currency markets. According to the report, these measures also allow businesses to import and export goods without needing state intermediaries and to gain access to more idle land.
While these changes move the island closer to the market-oriented economy the United States has long advocated for, President Diaz-Canel and Prime Minister Manuel Marrero have both emphasized that the government does not intend to embrace full capitalism. Instead, the administration aims to support the private sector within a socialist framework to combat a five-year economic crisis marked by blackouts lasting more than 30 hours, transportation disruptions, and a sharp decline in production.
Revoking Biden-era access to U.S. bank accounts
A central point of contention is the recent decision by the United States to revoke permissions that were previously granted by former President Joe Biden. This move specifically targets small Cuban private entrepreneurs by preventing them from opening accounts in U.S. banks. Diaz-Canel characterized this action as a direct attack on the very sector the Cuban government is attempting to expand.
The report notes that this revocation is part of a broader set of U .S. measures targeting Cuba's private sector. The Cuban leadership has long characterized these U.S. sanctions as an "energy blockade" that directly harms the Cuban people... By restricting international banking access, the U.S. is effectively limiting the operational capacity of the very entrepreneurs that have become vital components of the Cuban economy in recent years .
A May 22 rally in front of the U.S. Embassy
The tension between Havana and Washington was physically manifested during a rally held on Friday, May 22, 2026. President Diaz-Canel spoke in front of the U.S. Embassy in Havana, accompanied by figures such as Raul Guillermo Rodriguez Castro, the grandson of former President Raul Castro. During the event, Diaz-Canel rejected claims from U.S. officials, including President Donald Trump and Secretary of State Marco Rubio, that Cuba is a failed state.
This public demonstration served to underscore the ongoing friction regarding U.S. sanctions and economic policy. The rally highlighted the deep-seated ideological divide as Cuba attempts to navigate internal economic restructuring while facing external pressure from Washington.
The missing data on affected Cuban entrepreneurs
Despite the significant impact of the new banking restrictions, several critical details remain unknown. The report states that no specific figures are available regarding how many Cuban entrepreneurs currently hold or have lost access to U.S. bank accounts. Without this data, it is difficult to quantify the exact scale of the economic setback for the island's burgeoning private sector. Independent analysts on the island have described the banking restrictions as a significant setback for the development of private enterprise.
Furthermore, while the Cuban government has announced its intent to support private enterprise, it remains unclear how these businesses will manage international trade and currency fluctuations without the promised banking access. U.S. officials have not yet provided a formal response to Diaz-Canel's specific accusations of hypocrisy regarding these policy contradictions.
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