Cuba Criticizes OFAC Remittance Restrictions
New U.S. restrictions and prohibitions on remittances to Cuba will “directly harm the Cuban people” and are a “direct attack” on family remittances, the Cuban government said Oct. 28. “Doing so in the middle of a pandemic corroborates the US government’s cynicism, opportunism and contempt for the Cuban people,” the Cuban government said.
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The restrictions, announced in September (see 2009230029) and earlier this month (see 2010230024) by the Office of Foreign Assets Control, revised general licenses to remove remittance-related authorizations and other remittance activities involving Cuba. The restrictions impact entities on the Cuba Restricted List, including Financiera Cimex (Fincimex), Cuba’s state-owned non-banking financial company.
Cuba said, “Washington spokespersons are lying when trying to pretend that the aforementioned restrictions will only affect one specific entity,” referring to Fincimex. Cuba said Western Union will close its 407 “outlets” on the island due to the “brutal measures,” but a Western Union spokesperson said the company's Cuban services “remain operational.”
“Western Union is committed to adhering to all government regulations, and we are exploring ways to comply with the new rules and regulations on Cuba,” a spokesperson said Oct. 28. “We will provide additional information as we formalize those plans.” OFAC did not comment.