Financial services Visa and Mastercard stop payments in Cuba
Due to the new sanctions imposed by the US government on Cuba's foreign business partners, card payments with Visa and Mastercard have been suspended on the socialist Caribbean island. The island is relying on cash and cards from Russia and China.
03.06.2026, 23:41
03.06.2026, 23:44
SDA
According to the Cuban Central Bank, the foreign bank that processes the transactions of both credit cards in Cuba is suspending its relationship with the state financial services provider Fincimex. It was not disclosed which bank this is.
Fincimex is part of the Cuban military economic 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 powerful military group are also to 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 jointly manage with the group.
Cuba accuses USA of "suffocation strategy"
The Cuban Central Bank attributed the foreign bank's decision to stop doing business in Cuba to Washington's "suffocation strategy" against the Cuban people. The Banco Central de Cuba stated that it was impossible for the bank to continue fulfilling the agreements with Fincimex as of June 6 because it would be illegal. Foreign currency payments would now only be possible in cash, with national prepaid cards and with credit cards from Mir in Russia and UnionPay in China.
