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Cuban banks stop accepting US dollar cash deposits

Havana, June 21 (Xinhua)-The Cuban banking system has stopped accepting cash deposits in US dollars since Monday. This is a measure announced by the government 10 days ago to address the impact of new sanctions on the island as part of the long-term United States. Trade ban.

The Central Bank of Cuba said in a statement that this move was necessary because Cuban banks were banned from depositing US dollars in international banks more than a year ago.

“This provision does not limit the operations performed by remittances or cash deposits in other freely exchangeable currencies accepted in Cuba, but only in US dollars (cash),” the bank said. Stated.

The bank added that the duration of the measures will depend on the sanctions and that export transactions in the US dollar will not function properly.

The embargo, which has been in place since 1962, has been strengthened by Donald Trump’s former US administration, which has imposed more than 240 sanctions and restrictions, including the suspension of remittances to Cuba.

Cuban banks stop accepting US dollar cash deposits

Source link Cuban banks stop accepting US dollar cash deposits

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