Rubio Sanctions Cuban Bank Linked to Blacklisted Iranian Lender

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U.S. Secretary of State Marco Rubio has sanctioned a state-owned Cuban bank for allegedly providing services to a blacklisted Iranian lender, marking another step in Washington’s intensified pressure on Havana’s financial ties to Tehran. The move targets Banco Internacional de Comercio S.A. (BICSA), which has been facilitating transactions for Iran’s Karafarin Bank since at least 2022, according to the State Department.

Sanctions Target Cuban Bank’s Role in Iranian Financial Network

The Treasury Department sanctioned Karafarin Bank in 2020 as part of a broader crackdown on Iran’s financial sector. Rubio condemned Cuba for allowing its banking system to serve as an outpost for “malign actors and terror groups,” with Iran designated as the “world’s number one state sponsor of terrorism.” The sanctions block any U.S. assets of BICSA and warn foreign banks against engaging with sanctioned parties, with penalties extending to those operating in Cuba’s financial, energy, defense, mining, or security sectors.

Cuba-Iran Ties Rooted in Shared Opposition to U.S.

The U.S. and Iran’s long-standing tensions with Cuba date back to the 1979 Islamic Revolution, built on mutual hostility toward Washington rather than economic interests. Fidel Castro’s 2001 visit to Tehran and Cuba’s vote against referring Iran’s nuclear dossier to the UN Security Council underscore the deepening alliance. A recent State Department report labeled Iran one of Cuba’s main strategic partners, accusing Havana of supporting Tehran’s intelligence and terror operations.

Continued Pressure on Cuban Leadership

Thursday’s sanctions are part of a broader U.S. campaign targeting Cuba’s financial and security ties to Iran and other “dangerous and hostile” actors. The action follows a May executive order authorizing sweeping penalties against Cuba, which was used in June to sanction President Miguel Díaz-Canel, his wife, and son, along with key figures in Cuba’s intelligence apparatus. Rubio, the son of Cuban exiles, has repeatedly dismissed reports of a softer stance, criticizing media outlets for relying on “charlatans & liars.”

Source: Daily Wire

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claire.thomson