US sanctions Cuban bank over alleged Iran ties

The United States imposed sanctions Thursday on Cuba's Banco Internacional de Comercio S.A., accusing it of ties to Iran's Karafarin Bank.

Washington said BICSA had maintained ties with Karafarin Bank since at least 2022. Karafarin Bank has been under US sanctions since 2020.

US Secretary of State Marco Rubio said the measures were part of efforts to increase economic pressure on Iran. He accused Cuba of operating as an outpost for malign actors and terror groups, including Iran.

Cuban Foreign Minister Bruno Rodriguez rejected the move on X, calling it “aggressive.” He said BICSA was “an absolutely legitimate bank” and said its transactions in Cuba and around the world were legitimate.

Rodriguez said the action showed what he called a criminal determination to impose collective punishment on Cubans and shut off Cuba's economy.

The United States also imposed sanctions Thursday on Iraq-based International Development Bank for Investment and Finance, which the US Treasury said provides financial services and US dollar access for Iran, as well as several Iranian banks, companies and individuals.