Compliance
Washington Gave Iran as the Reason for Sanctioning a Cuban Bank. The Legal Ground It Used Was Simply Banking in Cuba.
The State Department designated Cuba's Banco Internacional de Comercio S.A. on 15 October 2026, saying it had served Iran's Karafarin Bank since 2022. The designation was made under a clause of Executive Order 14404 requiring only that a firm operate in Cuba's financial services sector.
Read More →