Cuban Bank Based in London Punished by US

Havin Bank LTD, the London-based Cuban bank now under US Treasury Department sanctions.

HAVANA TIMES – The United States announced sanctions on Thursday against Havin Bank LTD, a London-based Cuban entity also known as Havana International Bank, dealing a blow to the Cuban financial system, reported

The Treasury Department said it had placed the bank on its Office of Foreign Assets Control list of entities which US citizens and institutions can have no dealings with, with stiff fines for violators.

Havin Bank has been in operation since 1973, and is the only bank with entirely Cuban capital outside the island. Its principal shareholder is the Central Bank of Cuba.

The bank has a network of 400 correspondents around the world that provide banking services for the Cuban market.

The repercussions of the US sanction will be forthcoming when the different banking and trade companies evaluate their vulnerability.

The sanctions come just as the island’s Communist Party government has allowed the US currency to circulate, permitting some state stores to sell food and other basic products for dollars. It recently eliminated a 10 per cent tax on cash dollar transactions that had been in effect since 2004.

With the US presidential elections less than a hundred days away, Donald Trump continues to let Florida Senator Marco Rubio and Bob Menendez (New Jersey) guide his Cuba policy.

Step by step he is reversing an opening with Cuba initiated by former president Barack Obama*, hardening a trade embargo in effect since 1962. 

In doing so, the Trump administration has cited human rights violations by Cuba and Havana’s support for the socialist government of Nicolas Maduro in Venezuela.

[*Editors Note: Obama’s overtures to Cuba were sharply rejected by Fidel Castro who said he was just trying a new method to overthrow their revolution. Brother Raul Castro, then the president, and the rest of the Communist Party apparatus followed suit, attacking Obama at all levels. Now they have Donald Trump to deal with.]

11 thoughts on “Cuban Bank Based in London Punished by US

  • July 20, 2021 at 12:50 am

    You are completely out of touch with what’s going on in Cuba. And that will be the only thing that I tell you. Everyone is suffering, I hear it from my family that live there, they jail you for saying “patria o Vida “ (translated: homeland or life). Cuban govt has no regard for simple human rights nor do they value anyone who has a different opinion.

    Why don’t you stay in Cuba now after the pandemic? I heard it’s an amazing vacation spot especially now since it’s sunny and they have everything you can even get vaccinated.

  • August 8, 2020 at 8:00 pm

    Yes Nick, it was one-sided. Castro sought to use nuclear weapons against the US population. The reverse did not apply. For some odd reason you obviously consider that history is irrelevant and should be forgotten in this instance.

    How willing are you to dismiss the Monroe Doctrine and the Treaty of Paris as “bygone events” although one occurred almost two hundred years ago, and the second almost one hundred and twenty years ago?

  • August 3, 2020 at 5:22 pm

    Mr MacD, It’s good to hear that although 60 years have passed, you have managed to retain the ability to dish out an entirely one sided re-telling of those bygones events.

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