Visa and Mastercard stop operating in Cuba due to U.S. sanctions

Havana.– The Government of Cuba announced the suspension of operations with Visa and Mastercard cards starting next June 6, a measure it attributes to the tightening of sanctions imposed by the United States and which represents a new blow to the island’s economy and tourism sector.

According to the Central Bank of Cuba, the decision comes after a foreign financial entity that processed international transactions related to these cards decided to suspend its operations with the country to avoid potential sanctions derived from an executive order issued by the U.S. government on May 1st.

Cuban authorities indicated that the measure will prevent the country from receiving income from the sale of goods and services through international Visa and Mastercard cards, affecting both citizens and foreign visitors who use these payment methods during their stays on the island.

The suspension is linked to restrictions imposed against entities associated with the state business conglomerate GAESA, which controls important areas of the Cuban economy, including financial, tourism, and remittance activities. Washington maintains that these entities benefit the government and military leadership, while Cuba rejects those accusations and claims that they contribute to the country’s economic development.

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The new measure adds to the recent departure of several foreign companies that operated in Cuba, including hotel chains, airlines, and other international companies that have reduced or suspended their activities due to the tightening of U.S. sanctions.

Analysts believe that the interruption of Visa and Mastercard services could further hinder commercial and tourism operations on the island, at a time when Cuba is facing a complex economic situation marked by a shortage of foreign currency, energy problems, and a decline in tourism activity.