Cuba loses Visa, Mastercard services as US sanctions trigger hotel chain exits

Cuba's Central Bank suspended the operation of international payment cards Visa and Mastercard on 6 June, citing the need to avoid penalties under the United States' Executive Order 14404. The move cuts off the island's ability to receive payments for goods and services through these widely used platforms.

The suspension coincides with a wave of foreign hotel operators pulling back from the island. Spanish chains Meliá and Iberostar announced the cessation of activities in multiple properties, while firms such as Blue Diamond and Archipelago International also scaled back or terminated operations. The sanctions also target GAESA, the state-owned conglomerate that controls a large share of Cuba's GDP, and prompted the Canadian mining company Sherritt to exit the country.

These actions deepen Cuba's economic challenges, further reducing tourism revenues and limiting access to international financial systems amid an ongoing U.S. pressure campaign.