US SANCTIONS CUBAN BANK LINKED TO IRAN

What happened: The U.S. State Department announced sanctions on Oct. 15 targeting Cuba's Banco Internacional de Comercio S.A., a state-owned bank, under Executive Order 14404. Key numbers: Announced Oct. 15; bank served Iran's Karafarin Bank since at least 2022; Karafarin sanctioned in 2020 under Executive Order 13902; 50 percent ownership rule applies. Why it matters: The move continues the administration's pressure campaign on Cuba and Iran. Secretary of State Marco Rubio said the administration will not tolerate a rogue state hosting hostile operations near the U.S.

The U.S. State Department announced sanctions on Oct. 15 targeting Cuba's Banco Internacional de Comercio S.A., a state-owned bank, under Executive Order 14404.

The move continues the administration's pressure campaign on Cuba and Iran. Secretary of State Marco Rubio said the administration will not tolerate a rogue state hosting hostile operations near the U.S.