Cuba will suspend transactions with Visa and Mastercard cards due to sanctions imposed by the USA.

The Central Bank of Cuba announced that, starting June 6, the island will suspend transactions with Visa and Mastercard cards, citing sanctions imposed by the United States. These sanctions, extended by an executive order on May 1, have led a foreign partner, which previously processed transactions for Cuba, to limit operations.

The Central Bank emphasized that, due to this decision, Cuba will not be able to receive revenue from the sale of goods and services through these international cards. This measure comes at a time when Cuba's economy and tourism industry are already affected, and the Trump administration continues to intensify sanctions to overthrow the communist government.

Card transactions have historically been managed by a foreign bank and by Fincimex, S.A., an entity sanctioned by the U.S. The United States accuses GAESA, associated with Fincimex, of using profits from Cuba's valuable industries for the benefit of the military and the Cuban elite, accusations that Cuba denies.

This situation has led to an exodus of businesses from Cuba, with investors distancing themselves from sanctioned institutions. Visa and Mastercard did not provide immediate comments.