United States blacklists Cuban bank based in the United Kingdom and blocks its assets

The Office of Foreign Assets Control of the United States government (OFAC) has included the Cuban bank Havana International Bank LTD in its list of Specially Designated Nationals and Blocked Persons (SDN).

The bank, also known as Havin Bank Limited, entered the so-called SDN black-list on Thursday, joining individuals, groups and entities that, according to the US government, could be related to activities such as terrorism or drug trafficking.

As part of the recent listing, the assets of the Cuban entity based in the United Kingdom – with 400 correspondent banks in the world – will become blocked, and from this moment on, US citizens are prohibited from dealing with any of its branches.

Havana International Bank LTD was incorporated on October 3, 1972, as a Limited Company, by means of a Certificate of Incorporation issued by Company House, in accordance with British laws and regulations.

The Bank of England authorized it to operate in London since August 1973, being the only fully Cuban capital bank incorporated outside the Caribbean archipelago and having as its main shareholder the Central Bank of Cuba.

As of today, all legal entities incorporated under US law, as well as its subsidiaries in other countries, entities under the control of a US citizen or entity, companies in possession of assets are prohibited from relating to Havin Bank. with origin in that North American nation and, in general, all the people and entities with presence there.

(Report from CubaDebate)

Our comrade Jorge in Havana said:

The purpose is to leave Cuba without foreign exchange in the midst of the blockade and the Covid pandemic. I am not aware of the British government’s position on this but everything seems to indicate that they were complicit.