US Sanctions Cuban Bank for Alleged Ties With Military, Pompeo Says

WASHINGTON (Sputnik) – The United States has added Cuban Banco Financiero International to its checklist of sanctioned entities, saying it’s managed by the nation’s army, State Secretary Mike Pompeo stated Friday.

“Today, the Department of State is announcing the addition of Banco Financiero International S.A. (BFI) to the Cuba Restricted List, effective upon publication in early January. BFI is a Cuban military-controlled commercial bank that benefits directly from financial transactions at the expense of the Cuban people,” Pompeo stated in a press release.

According to the assertion, the army makes use of the financial institution to offer preferential entry to army and state companies and fund government-controlled initiatives.

The US prohibits all monetary transactions with the entities from the checklist, which was final up to date on 29 September.

Sourse: sputniknews.com

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