Remittances between the US and Cuba will be suspended November 23th

White House May Ease Ban on Remittances as Part of Cuba Review

 HAVANA, Nov 13 (PL) The Cuban financial company Fincimex and the American Western Union agreed to suspend the payment of remittances as of November 23,

as a result of Washington’s unilateral measures against the island, it emerged today.

From the Twitter profile of the Cimex mercantile corporation, to which it is attached, Fincimex explained that it held negotiations with the US company to establish by mutual agreement and in advance the procedures for the orderly suspension of remittances from the north to the largest of the Antilles.

As a result of the exchange, she said, they decided to end the payment of the money from November 23, and the operation of the 407 points included in the network of the US firm on the island.
The finance company kept the population informed through different channels about the unilateral measures of the current United States government, “aimed at suffocating the Cuban economy amid the adverse effects of the Covid-19 pandemic,” the statement emphasized.

She reiterated that the interruption of this service between the two countries is the sole and exclusive responsibility of the White House. In addition, it ratified its commitment to the families of the island in order to identify and sustain orderly and safe flows of remittances.

Last October, the United States Department of the Treasury released a draft of a final rule to eliminate, 30 days after October 27, the scope of certain general authorizations related to bank transfers from abroad. The measure prohibits sending money to Cuba through Fincimex and the related firm American International Services (AIS), and ends the 407 Western Union payment points distributed throughout the country.

The Caribbean nation’s finance company has been managing remittances for more than 20 years, under a representation contract signed between the two entities.

In a recent statement, the Cuban company denounced Washington’s attempts to make it believe that remittances would not be interrupted if the largest of the Antilles accepted the imposition of the US government to establish a payment network different from the current one.
“They lie,” the text states and explains that in the 30 days set by the foreign government, it is impossible to achieve the infrastructure, technological integration, logistical processes and the preparation of the personnel necessary for money transfers.

“Those who designed the measures know very well that it would not be possible in 30 days to organize alternative solutions,” so it is “evident the intention of the US government to interrupt remittances to Cuba, and for this, they need to lie to public opinion,” he remarks. .