US sanctions Cuban bank over ties to Iran — Anadolu Agency

On October 15, the United States imposed sanctions on the Havana-based Cuban state lender Banco Internacional de Comercio S.A. (BICSA). US authorities link the decision to the bank’s possible commercial contacts with Iranian financial networks, Anadolu Agency reports.

Ties to an Iranian bank

US Secretary of State Marco Rubio said that BICSA had provided services to Iran’s Karafarin Bank, which is already under sanctions, since at least 2022. He also accused Cuba of acting as a foothold for Washington’s foreign adversaries.

The US Treasury Department’s Office of Foreign Assets Control added BICSA to the sanctions list as an institution operating in Cuba’s financial sector. The move was coordinated with broader sanctions actions against Iranian entities.

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Washington’s statements

Rubio said that Washington intends to actively disrupt financial ties between Havana and Tehran and will not tolerate hostile operations near US borders.

According to the agency, relations between the United States and Cuba worsened under President Donald Trump. His administration identified regime change in Cuba as one of its goals, while Washington used an oil blockade and extensive sanctions to pressure Havana.