{"id":73557,"date":"2026-06-04T18:19:46","date_gmt":"2026-06-04T18:19:46","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/visa-and-mastercard-to-halt-operations-in-cuba-following-sweeping-us-sanctions\/"},"modified":"2026-06-04T18:19:46","modified_gmt":"2026-06-04T18:19:46","slug":"visa-and-mastercard-to-halt-operations-in-cuba-following-sweeping-us-sanctions","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/visa-and-mastercard-to-halt-operations-in-cuba-following-sweeping-us-sanctions\/","title":{"rendered":"Visa and Mastercard to Halt Operations in Cuba Following Sweeping US Sanctions"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Trump issued EO 14404 on May 1, forcing a bank to cut ties with Fincimex and next halt Cuba transactions.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Halting Visa and Mastercard hits Cuba\u2019s tourism market, next blocking 100% of income from Western cards.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Effective June 6, tourists must next rely on Mir Cards or UnionPay as OFAC broadens trade sanctions.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Mastercard And Visa Stop Processing Payments In Cuba<\/h2>\n<p>Mastercard and Visa, two of the world\u2019s largest credit companies, will no longer offer payment processing services in Cuba.<\/p>\n<p>The Central Bank of Cuba announced on Wednesday that it had received a communication from an undisclosed foreign bank that processed these transactions in Cuba, stating that it would halt its commercial relationship with Fincimex, a payment intermediary.<\/p>\n<p><\/p>\n<p>The central bank stressed that this action <strong>\u201cis directly related to Executive Order No. 14404 of May 1, issued by the President of the United States of America, Donald Trump, as part of his strategy of strangulation against the people of Cuba.\u201d<\/strong><\/p>\n<p>Executive Order 14404 expanded the previous sanctions regime against the nation, as the Office of Foreign Assets Control (OFAC) <a href=\"https:\/\/ofac.treasury.gov\/faqs\/1251\" target=\"_blank\" rel=\"noopener noreferrer\">explains<\/a> that it <strong>\u201cbroadens U.S. sanctions on Cuba to include authorizing sanctions on non-Cuban foreign persons for providing support to Cuba and on foreign financial institutions for conducting or facilitating significant transactions involving persons blocked.\u201d<\/strong><\/p>\n<p>This means that Cuba cannot receive income from the sale of goods and services transacted using international cards operated by Visa and Mastercard.<\/p>\n<p><strong>\u201cThe foreign bank announced that, effective June 6\u2014the date on which the measure imposed by the empire enters into force\u2014it becomes unlawful and impossible to continue executing the agreements with the Cuban entity,\u201d<\/strong> the central bank <a href=\"https:\/\/www.bc.gob.cu\/media\/noticias\/informacion-del-banco-central-de-cuba\" target=\"_blank\" rel=\"noopener noreferrer\">concluded<\/a>.<\/p>\n<p>In 2020, the OFAC <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sm1217\" target=\"_blank\" rel=\"noopener noreferrer\">identified<\/a> Fincimex, a Panama-based company that handles remittances and foreign operations for the central bank, as an entity controlled by the Cuban military with strategic roles in the Cuban economy. The entity would operate as a subsidiary of Grupo de Administraci\u00f3n Empresarial S.A. (GAESA), an umbrella enterprise established by the Cuban regime to bypass Cuban Assets Control Regulations (CACR) sanctions.<\/p>\n<p>The measure would primarily affect tourists, who would have to rely on other payment methods while staying on the island. Other payment methods, including national prepaid cards, Mir Cards and UnionPay cards, will operate normally.<\/p>\n<p>Visa and MasterCard were recently <a href=\"https:\/\/news.bitcoin.com\/russia-tells-visa-and-mastercard-to-finally-leave-as-market-share-plummets-below-17\/\">invited<\/a> to leave Russia, as Alla Bakina, Director of the Bank of Russia\u2019s National Payment System Department, stated that \u201c<strong>they no longer carry out or provide the functionality they always ensured\u201d<\/strong> due to similar sanctions.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/visa-and-mastercard-to-halt-operations-in-cuba-following-sweeping-us-sanctions\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Trump issued EO 14404 on May 1, forcing a bank to cut ties with Fincimex and next halt Cuba transactions. Halting Visa and Mastercard hits Cuba\u2019s tourism market, next blocking 100% of income from Western cards. Effective June 6, tourists must next rely on Mir Cards [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":73558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73557"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73557"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73557\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73558"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}