HAVANA (dpa-AFX) – Due to the US government’s new sanctions against Cuba’s foreign business partners, card payments with Visa and MasterCard will be suspended on the socialist Caribbean island. As the Cuban Central Bank announced, the foreign bank that processes both credit card transactions in Cuba is suspending its relations with the state financial service provider Fincimex. Which bank this is was not disclosed.
Fincimex is part of the Cuban military business group Gaesa. The government of US President Donald Trump imposed new sanctions against Gaesa at the beginning of May. As a result, foreign banks and companies that continue to work with the military’s powerful group of companies will also be sanctioned from Friday. Four hotel chains from Spain, Canada and Indonesia have already announced that they will withdraw from the operation of hotels that they managed jointly with the group.
Cuba accuses the USA of a “strategy of suffocation”.
The Cuban central bank attributed the foreign bank’s decision to suspend its operations in Cuba to Washington’s “stifling strategy” against the Cuban people. The bank has announced that from June 6 it will be impossible for it to continue fulfilling the agreements with Fincimex because it would be illegal, said the Banco Central de Cuba. Foreign currency payments would now only be possible in cash, with national prepaid cards and with credit cards from Mir from Russia and from UnionPay from China./aso/DP/he
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