Trump administration provides Cuban financial institution to US restricted record

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

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

In an announcement 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 army, intelligence or safety companies.

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

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

Cuba’s international 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 bolster an financial siege that has did not 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 closing days in workplace.

The New York Instances 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 International Affairs Committee, has warned Pompeo in opposition to making the terrorism designation, saying it goals to “tie the palms” of incoming US President-elect Joe Biden.

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

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

Biden coverage shift

Biden, who is ready 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 lots of the sanctions and different rules imposed by the Trump administration, Bloomberg stated, citing folks accustomed to the discussions.

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

“As we speak, 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 way 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 almost 90 years.