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Cuba’s private firms: customers Europe struggles to reach

· Helfen statt Blockieren editorial team

According to the government, Cuba now has 15,200 private small and medium-sized enterprises. They buy food, building materials and spare parts abroad. EU exports to Cuba, by contrast, have fallen by more than two fifths since 2015. What holds back permitted trade lies both outside and inside Cuba.

A new group of customers

Since 2021 Cuba has licensed private small and medium-sized enterprises, in Spanish mipymes. In July 2024 the Ministry of Economy reported 11,046 licensed private businesses. In July 2026 officials cited 15,200 private mipymes among 23,172 economic units in total. These businesses are buyers: in the first half of 2024, private forms of enterprise imported goods worth about 900 million US dollars according to the ministry, mainly food and beverages.

15,200private small and medium-sized firms in July 2026EFE, figures from Cuban authorities, 8 Jul 2026
about 900 million US dollarsimports by private businesses in the first half of 2024Cuban Ministry of Economy, via EFE, 17 Jul 2024
−44.3%EU exports to Cuba, 2025 versus 2015Eurostat, own analysis

What Europe supplies

This demand meets a shrinking supply. In 2015 the EU shipped goods worth 2,139.6 million euros to Cuba, in 2025 only 1,191.4 million euros, 44.3 percent less. Spain shipped goods worth 686.5 million euros in 2025 (2015: 964.2), Germany 98.3 million euros (2015: 255.5). The data show the decline, not its cause.

EU exports to Cuba

European Union of 27 member states, million euros per year.

YearMillion euros
20152,140
20162,015
20172,062
20182,160
20192,109
20201,467
20211,348
20221,580
20231,649
20241,488
20251,191

Analysis: Helfen statt Blockieren. Data: Eurostat Comext, DS-045409, as of 16 Oct 2026, accessed 3 Nov 2026.

The obstacle from outside

For EU companies, trade with Cuba is permitted under EU law. The Blocking Statute of 1996 even prohibits complying with the US Helms-Burton Act (more on this). The US embargo still has an effect, mainly through banks. In 2022 the European Banking Authority noted that banks with dollar clearing say they cannot do business with persons and companies on US sanctions lists, even where these lists differ from those of the EU.

Since 20 January 2025 the US has again listed Cuba as a state sponsor of terrorism; the previous administration had removed the country six days earlier. Even permitted agricultural shipments from the US must be paid in advance or financed through a bank in a third country. What the US decided in addition in 2026 is described in the article “Cuba 2026: embargo and obstacles within the country”.

Two sides of one obstacle

What holds back trade with Cuban private firms. Tap a box to see the source.

From outsideUS embargoUS farm goods only withcash in advance or via athird-country bankTerror listback on the US listsince 20 January 2025Banksdollar banks follow USlists, also in the EUInside the countryNo direct importsdirect imports by privatefirms only allowed in 2026Tight limitsuntil 2026 at most 100employees, many activitiesbannedPolitical prisonerspeople held forpolitical reasonsFrom outsideUS embargoUS farm goods only withcash in advance or via athird-country bankTerror listback on the US listsince 20 January 2025Banksdollar banks follow USlists, also in the EUInside the countryNo direct importsdirect imports by privatefirms only allowed in 2026Tight limitsuntil 2026 at most 100employees, many activitiesbannedPolitical prisonerspeople held forpolitical reasons

Sketch: Helfen statt Blockieren, sources below.

The obstacle inside the country

Part of the obstacles is home-made, and the government showed as much itself in 2026 by easing them. In June 2026 it announced a package of 176 measures. According to officials speaking in July 2026, the limit of 100 employees for private firms is lifted; they may now import directly, setting up a business is to be approved in about 20 days, and more than 62 percent of the activities previously banned for private actors are being freed or relaxed. Prime Minister Manuel Marrero announced in June that non-state businesses may deposit foreign-currency cash into accounts in the same currency if they declare its legal origin.

How quickly this will be implemented is open. The whole truth also includes this: people are imprisoned in Cuba for political reasons. In January 2026 Amnesty International called the releases of 2025 selective and demanded the immediate release of everyone held for political reasons.

Seeing both obstacles at once

The US embargo and the failures of the Cuban leadership are two causes with different origins. One is decided in Washington, the other in Havana. Naming only one explains half the situation. For European traders this means: one obstacle can be reduced through careful screening and the protection of EU law, the other only in Cuba itself.

What this means for traders

  • Trade is permitted under EU law; as everywhere, EU lists and control lists have to be checked.
  • Payments in euros through banks without a link to the US dollar have less contact with US law.
  • Anyone whose interests are affected by US law must inform the European Commission within 30 days under the Blocking Statute.
  • For questions on EU sanctions there is the free EU Sanctions Helpdesk. How a payment gets stuck is explained in “Why a permitted payment gets stuck”.

This piece is information, not legal advice. It reflects the author’s view. “Helfen statt Blockieren” is non-partisan.

Sources

All online sources accessed on 3 November 2026.

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