Cuba’s central bank announced that starting June 6, Visa and Mastercard transactions will no longer be processed in the country. The move follows new US trade sanctions imposed by the Trump administration, which have intensified economic pressure on Cuba’s already struggling economy. According to Reuters, several foreign companies have begun limiting or ending business ties with Cuba after a US executive order issued on May 1.

The central bank stated that due to these restrictions, payments for goods and services through international cards can no longer be received. Analysts described the development as a major blow to Cuba’s economy, particularly its tourism sector, which was already in distress. The sanctions also target GAESA, a military-controlled business group accused of secretly managing revenues from tourism, financial transactions, and remittances.

Cuba’s government has denied the allegations, asserting that GAESA contributes to the country’s economic and social development. In recent weeks, several foreign hotels, airlines, and shipping companies have reportedly begun withdrawing from Cuba amid the tightening sanctions.