US Sanctions Just Axed Visa and Mastercard in Cuba — Here’s the Real End Game

(AsiaGameHub) –   By: Alistair Kroon, Well-known Overseas Geopolitical Commentator

This isn’t just a minor payment service disruption. It’s a clear case of US sanctions weaponizing everyday financial infrastructure. Ordinary travelers and Cuban small businesses will bear the brunt of the decision, not the political targets the policy claims to hit. Hardline Cuba policy factions in Washington are the only parties that stand to gain from this move.

Per the Central Bank of Cuba, Visa and Mastercard transactions will stop on June 6. A foreign bank ended its payment processing partnership with local firm Fincimex to trigger the change. Cuba ties the cut-off directly to expanded US sanctions under Executive Order 14404. Donald Trump signed that order on May 1, raising sanctions risk for third-party firms working with blocked Cuban entities. The suspension affects all international card payments routed through Fincimex, hitting visiting tourists first.

The official line frames this as a neutral commercial decision by a foreign bank. The underlying goal is to squeeze revenue tied to GAESA, the Cuban military’s business network. OFAC first identified Fincimex as part of the GAESA network back in 2020. The new executive order raises penalties so high, no foreign bank can afford to keep the Fincimex partnership active.

Alternative payment options including national prepaid cards, Mir, and UnionPay will keep operating in Cuba. This shift will speed up the global move away from US-controlled payment rails in sanctioned economies.