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US Treasury Department Bans Cuban Military From Making Remittance Transactions | CNN

2020-10-26T23:15:04.025Z

According to the Department of the Treasury, with this action they prohibit any entity and sub-entity that is under the control of the Cuban army to carry out any type of financial transaction. | United States | CNN



(CNN Spanish) -

This Monday the United States Treasury Department, through its Office of Foreign Assets Control (OFAC, for its acronym in English), eliminated the Cuban military entities from the remittance process from the United States, amending the Cuban Assets Control Regulations (CACR, for its acronym in English).

According to the statement, with this action they prohibit any entity and sub-entity that is under the control of the Cuban army to carry out any type of financial transaction.

"Cuba's military institutions, such as FINCIMEX, take advantage of ordinary Cubans who depend on remittances, charging fees for the Cuban military's own benefit," said Secretary Steven T. Mnuchin.

"The Cuban people should have the freedom to decide what to do with their own money, without interference from the military," Mnuchin said.

Treasury Department

Source: cnnespanol

All news articles on 2020-10-26

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