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Trump administration adds Cuban bank to US restricted list | Latin America News

Cuban overseas minister rejects the transfer as a ‘punitive measure’ that goals to tighten the US blockade in opposition to Cuba.

The USA has added a Cuban financial institution to its restricted entities record, alleging that the monetary establishment has ties to the Cuban navy and its income assist fund the nation’s “interference” in Venezuela.

In a press release on Friday, the US State Division stated it was including Banco Financiero Worldwide SA (BFI) to the Cuba Restricted Checklist, an inventory of entities that the US alleges have ties to the Cuban navy, intelligence or safety companies.

Anybody topic to the US jurisdiction is prohibited from participating in monetary transactions with establishments on the record.

“Including BFI to the Cuba Restricted Checklist furthers the Administration’s objective of stopping the Cuban navy from controlling and benefiting from monetary transactions that ought to as a substitute profit the Cuban folks,” Secretary of State Mike Pompeo stated within the assertion.

Cuba’s overseas minister, Bruno Rodriguez, rejected the announcement, tweeting on Friday that it was a “punitive measure of #US State Division to tighten blockade in opposition to #Cuba”.

“The inclusion of Cuban entities in its lists is meant to strengthen an financial siege that has didn’t destroy the Cuban Revolution after 62 years,” Rodriguez wrote.

The transfer comes after the US media reported that President Donald Trump’s outgoing administration is mulling whether or not to designate Cuba as a state sponsor of terrorism in its last days in workplace.

The New York Occasions stated the State Division has drawn up a proposal, however it was unclear whether or not Pompeo would log off on it.

US Congressman Gregory Meeks, the incoming chairman of the Home Overseas Affairs Committee, has warned Pompeo in opposition to making the terrorism designation, saying it goals to “tie the fingers” of incoming US President-elect Joe Biden.

“This might clearly be one other stunt by President Trump and Pompeo,” Meeks stated.

A State Division spokesperson declined to touch upon “potential deliberations concerning designations”.

Biden coverage shift

Biden, who is about to be inaugurated on January 20, plans to maneuver Washington nearer to normalised relations with Havana, Bloomberg reported earlier this month.

That features easing restrictions on journey, funding and remittances, in addition to reversing most of the sanctions and different rules imposed by the Trump administration, Bloomberg stated, citing folks aware of the discussions.

Biden served as vp when the US and Cuba agreed to revive diplomatic relations.

“At this time, the US is altering its relationship with the folks of Cuba,” then-President Barack Obama said in December 2014, when the transfer was introduced.

“We’ll start to normalise relations between our two nations. By means of these adjustments, we intend to create extra alternatives for the American and Cuban folks and start a brand new chapter.”

Obama later visited Cuba in 2016 – the primary such journey by a sitting US chief in practically 90 years.

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