Cuba warns of impact of new US measure on remittances

The Vice Minister of Foreign Affairs of Cuba, Carlos Fernández de Cossío, warned this Thursday of the maintenance of the hostile policy of the United States (USA) against the population, after the Treasury Department authorized the Canadian company RevoluGROUP to send of remittances to the Caribbean nation.

The official pointed out that remittances sent by Western Union to Cuba charged around five dollars for every 100 sent, while the new channel charges the sender up to 30 dollars for every 100.

RevoluGROUP Canada Inc. reported on the start of sending remittances to Cuba, stating that it took precautions regarding the US and “the complexities that surround this specific market.”

The US Department of the Treasury issued a formal response on December 1, 2021 to the request made by the Canadian company, in November of the same year, confirming that its operations were “within the scope of permitted transactions” .

The Western Union service, which mediated around 30 percent of the market, was suspended at the end of 2020 as a result of the US hegemonic policy towards Cuba, which prevents shipments from the main US suppliers.

Other actions issued by the US Government to maintain the economic, commercial and financial blockade against Cuba was the inclusion of the financial organization (non-banking) that belongs to the CIMEX Group, Fincimex, which is associated with the island’s banking system, on the list of Restricted Cuban Entities of the Department of State.

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