Cuba Finally Finds a Bank to Handle Its Accounts in the USA

The Cuban Interests Section in Washington D.C. It could become the Cuban embassy in the near future.

HAVANA TIMES — The Cuban Interests Section in Washington has finally found a bank, overcoming another obstacle to the resumption of bilateral relations with the United States, according to sources with the State Department, reported dpa.

The source declined to specify the name of the bank where the Cuban delegation will have their accounts, because they felt that it corresponds to the Cuban government and the bank to make the announcement.

“I can’t tell you which bank it is. That’s an agreement between the Cubans and the bank, and probably that’s for them to do or the bank. And I’m pretty sure they’re going to be making a public announcement of that shortly,” said the State Department official.

The Cuban Interests Section, which is expected to become the island’s embassy, currently has no bank accounts because of the difficulties arising from the US economic embargo. The delegation had bank accounts previously with the banker, M & T, which closed them out last year.

Since then they could not find a bank to manage their accounts to ensure normal operation and to provide full consular services. This forced them to operate with cash.

In the absence of direct diplomatic relations, Cuba and the United States have maintained Interests Sections in their respective capitals since the late 1970s, allowing them to carry out consular services. Both countries diplomats are under strict internal travel restrictions.

On Thursday the delegations of Cuba and the United States will meet in Washington for the fourth round of negotiations for the resumption of bilateral relations, a process began on December 17 by Presidents Obama and Castro.

For now, no date has been set for the opening of embassies in Washington and Havana, but the State Department official expressed optimism that this could happen soon. “I think we’re closer than we’ve been in the past,” added the official.

In the negotiations over bilateral relations, the government of Raul Castro demands that Washington take Cuba off its list of state sponsors of terrorism and make possible normal banking for the Cuban Interests Section.

Castro said last week that the two countries could appoint ambassadors soon after the end of May, when Cuba is formally removed from the terrorism list.

US President Barack Obama announced in mid-April that his administration will remove the socialist island from the “black list” where it has been since 1982, as a step towards better relations.

The measure takes effect 45 days after announced. The same State Department source said that although the May 29, the 45th day since the announcement, to take effect it must first be published in the “Federal Register” which could happen a day or two later.

The US decision to remove Cuba from the list came just days after Obama held a historic meeting with Castro in the framework of the Summit of the Americas in Panama. It was the first meeting at this level between the two countries in more than 50 years.


9 thoughts on “Cuba Finally Finds a Bank to Handle Its Accounts in the USA

  • May 29, 2015 at 9:23 pm
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    That is interesting since the US is protecting the international CIA connected bomber (terrorist) Luis Posada Carriles, in the hypocrisy of American philosophic gymnastics Ronald reagan is renown to have said “One man’s freedom fighter is another man’s terrorist as the looks at the picture very narrowly from a contradictory dogma.:

  • May 27, 2015 at 11:29 am
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    I thought they couldn’t find a bank because of all the red tape the bank has to go through to deal with Cuba due to the embargo. I guess the Obama Administration has found a way around that. I hope the Cubans have an open house of their embassy in Washington once they become an embassy again. I just attended the EU Open House where I visited the German Embassy. It was great fun with lots of activities and food!

  • May 24, 2015 at 3:22 pm
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    With friends like those, who needs enemies?

  • May 24, 2015 at 3:20 pm
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    The five Cuban spies were fortunate in operating illegally within the United States. They only got jailed for their offences.
    The Russian controlled USSR shot any spies they succeeded in detecting in the captive Eastern European countries.
    All political spies could be described as heroes, but the best ones don’t get caught and so never receive such recognition. The ‘5’ can no longer be utilised as there role has been disclosed and in consequence they are paraded around Communist Party Of Cuba events to play on the emotions of the Cuban people.

  • May 23, 2015 at 7:23 pm
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    More and More, the hypocritical nature of America is being exposed. All the terrorist acts and affiliations are being disclosed as being ably assissted by America. The 1976 bombing of the Cubana Airline off the coast of Barbados and the terrorist is walking the streets of Florida a free man. Bin Laden and his gang were given the most up to date weapons to fight the Russians who were invited in Afghanistan to assist the then Socialist Government of the day. After the attack in America, America declared war on Bin Laden whom they claim was responsible for the attack on the twin Towers. Saddam was America’s friend during the war with Iran. They supplied Saddam with Chemical weapons. After using him, they suddenly declared that he possessed weapons of mass destruction-weapons which were provided to him by America. The Cuban Five heroes infiltrated terrorist cells in America which were planning to launch terrorist attacks on Cuba. They reported their findings to their country which in turn alerted the State Department; instead of Arresting the terrorists in America, they arrested the Cuban Five infiltrators and sentenced them to harsh prison terms. Can America be trusted? The Cubans will always have to be on the alert, for America has not changed her plans of overthrowing the Socialist Regime of Cuba. The policies have remained the same; Only strategy has changed. Instead of having strained relations, there is now friendly relationship..

  • May 21, 2015 at 6:34 pm
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    They could always invest the money with local boleteros.

  • May 20, 2015 at 4:33 pm
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    Have they tried credit unions? I find them much better institutions for placing my accounts; they are owned locally–by their shareholders–invest and lend locally. I’m surprised that a local credit union in Washington, D.C. did not offer services to the Cuban Interest Section. I guess all such institutions must have been coerced by the U.S. Government (just like ISP’s were coerced into not warning their customers about the pervasive government snooping, under threat of ending their right to do business).

  • May 20, 2015 at 3:58 pm
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    The difficulty Texancan is that civilized activities (many would question whether banking qualifies) are viewed by governments as recognition. For example, would you approve Kim Jong Un being permitted to open a bank account in Texas? Similarly US and European banks under instruction from their governments are currently using banking access as part of the embargo placed upon Vladmir Putin’s Russia for his invasion of Ukraine. The US has had an embargo upon Cuba for fifty five years – that includes banking. If as urged by Fidel Castro, Russia had launched a nuclear attack upon the US, would your current sentiments remain?

  • May 20, 2015 at 11:36 am
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    Shame on US to boycott basic civilized activities.

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