Visa and Mastercard Halt Payments in Cuba Amid New U.S. Sanctions

A U.S. sanctions directive targeting Cuba's military‑linked economic group Gaesa has led a foreign bank that processes Visa and Mastercard transactions for the Cuban state financial service Fincimex to suspend all card payments on the island as of 6 June 2026. The Cuban central bank said the move reflects Washington's "strangulation strategy" against the Cuban people.

With Visa and Mastercard unavailable, Cuban consumers can only use cash, national prepaid cards, or cards issued by Russia's Mir network and China's UnionPay. The sanctions have also prompted airlines, shipping firms and several hotel chains from Spain, Canada and Indonesia to withdraw from Cuba, worsening an already severe economic crisis marked by power outages and fuel shortages.