Cuba with new effects to remittances due to U.S. blockade

The Cuban commercial company FINCIMEX reported new disruptions to family remittances' normal and timely flow due to obstacles imposed by the United States government.

FINCIMEX posted on Facebook that the website aisremesascuba.com has been unable to maintain its service standards and has had to delay the period of accreditation of remittances to eight days due to the difficulty of finding financial institutions that authorize the level of daily operations to meet the growing demand for the service.'

According to the information, this happens because 'even though the operations originate in the Euro currency and do not contain flows from U.S. companies, the banking sector is under pressure due to the U.S. blockade.'

FINCIMEX recalled that Washington placed it on the list of restricted entities of the Office of Foreign Assets Control (OFAC) in 2020, which damaged operations between banks and, therefore, the service of sending money to the island.

The company assured that it is taking steps to overcome these obstacles and stressed 'that all transfers contracted to the country will be credited safely, in no case with any risk of loss of the transfer.'

Cuba has denounced the negative impact of the prohibitions established in the United States for the regular and institutional sending of remittances to the Caribbean nation.

Cuban Foreign Minister Bruno Rodriguez stated that the White House uses this sensitive issue as a political weapon against the island's population.