June 4, 2026, 7:54 amJune 4, 2026, 7:54 am
Due to the US government’s new sanctions against Cuba’s foreign business partners, card payments with Visa and Mastercard are being suspended on the socialist Caribbean island. The island relies on cash as well as cards from Russia and China.
The situation in Cuba continues to deteriorate.Image: keystone
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.
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. (dab/sda/dpa)