TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

Cuban banking system reopens its doors to Uncle Sam

Rohit Yadav by Rohit Yadav
April 14, 2023
in Americas
Cuban banking system
Share on FacebookShare on X

The Cuban banking system recent decision to lift its ban on cash deposits in US dollars has sparked mixed reactions. While some see it as a positive step towards improving the country’s financial system, others remain skeptical of the move and its implications for US-Cuba relations.

Firstly, it’s worth noting that the ban on US dollar cash deposits was implemented in 2021 as part of the government’s efforts to mitigate the impact of US sanctions on its economy. The sanctions, which were tightened under the Trump administration, have severely restricted Cuba’s access to international markets and financing, leading to a worsening of its economic situation.

Also Read

Barrage of missiles and drones ran over Ukraine after Trump’s 10-to-12-day Ultimatum. Why do sanctions not affect Russia? 

US Navy F-35C Crashes and Explodes Near Lemoore Naval Air Station.  Is F-35 a High-Tech Marvel or a High-Cost Liability? Growing Debate Over Reliability

Trump Signals G20 Boycott Over South Africa “Israel and Anti-White” Policies. Can BRICS come to rescue President Cyril Ramaphosa ?

With the lifting of the ban, Cubans can now deposit US dollars in their bank accounts and use them for transactions, which is expected to ease the shortage of foreign currency in the country. However, critics have raised concerns about the potential risks of relying on the US banking system, given its recent struggles.

International Money Transfer | Global Remittance with TranSwap
Source: International Monetary Transfer

Read more: US sidelined as Iran and Brazil forge a lasting alliance

Furthermore, some argue that the decision to lift the ban could be seen as a concession to the US government, which has been calling for reforms in Cuba’s political and economic systems. The US has maintained a trade and economic embargo on Cuba for over six decades, and some fear that this move by the Cuban banking system could be used as an excuse to justify its continuation.

Despite the uncertainties and risks, there are also those who see the decision as a positive step towards greater financial integration and cooperation between Cuba and the US. The lifting of the ban could pave the way for other measures aimed at improving economic ties between the two countries, such as the resumption of remittances and travel.

In conclusion, the Cuban banking system decision to lift the ban on US dollar cash deposits is a complex issue that has sparked debate and uncertainty. While it remains to be seen how it will affect the country’s economic situation and its relationship with the US, one thing is clear – the path towards greater cooperation and integration will require careful consideration and a willingness to navigate the challenges and risks involved.

https://www.youtube.com/watch?v=NCWC3oBqBP0

Tags: CubaJoe BidenMiguel Diaz-CanelSanctionUS
ShareTweetSend
Rohit Yadav

Rohit Yadav

Associate Editor, TFI Media. Pursuing Masters in Global Studies from Ambedkar University, Rohit is a Geopolitics and Sports enthusiast

Also Read

Trump Raises Bounty on Venezuela’s President Maduro to $50 Million

Trump’s $50 Million Bounty on Venezuela’s President Maduro. What will be China’s Next Move to Save its South American Ally?

August 8, 2025
Haley Hits Back: India Is an Ally, China Is a Threat"

Trump says, ‘We’re Getting Along with China very well’ – Nikki Haley responds, “Don’t give China a free pass while burning ties with a strong ally like India” 

August 6, 2025
Trump Says JD Vance is ‘Probably Favored’ to Become Heir Apparent to MAGA and for 2028 Republican Presidential Nomination.

⁠Trump Says JD Vance is ‘Probably Favored’ to Become Heir Apparent to MAGA and for 2028 Republican Presidential Nomination.

August 6, 2025
Trump Administration to Require Up to ‘$15,000 Bond’ from Foreign Visitors. What You Need to Know? (Picture Credit: RIF Trust)

Trump Administration to Require Up to ‘$15,000 Bond’ from Foreign Visitors. What You Need to Know?

August 5, 2025
Declassified Durham Annex Links Clinton Campaign and Soros Foundation to Trump–Russia Hoax

Newly Declassified “Durham annex” Report exposes Soros Foundation and Hillary Clinton campaign 2016 role in launching the Trump–Russia hoax, with FBI help. Biggest Political scandal in US history?  

August 1, 2025
FBI Finds Thousands of Trump-Russia Probe Documents in ‘Burn Bags’: What Are Burn Bags and Why Do They Matter?

FBI Finds Thousands of Trump-Russia Probe Documents in ‘Burn Bags’: What Are Burn Bags and Why Do They Matter?

July 31, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.