US Sanctions Cuba's Financial Institution FINCIMEX, 3 Army-Owned Hotels - Pompeo

WASHINGTON (Pakistan Point News / Sputnik - 04th June, 2020) The Trump administration has imposed new sanctions on Cuba's military-controlled financial institution FINCIMEX and on three military-owned hotels, US Secretary of State Mike Pompeo said in a statement.

"Today, the United States government is announcing the addition of seven new subentities to the Cuba Restricted List," Pompeo said on Wednesday. "These seven subentities disproportionately benefit the Castro dictatorship, a regime which uses the profits from these businesses to oppress the Cuban people and to fund its interference in Venezuela."

Pompeo explained that among the seven subentities are a military-controlled financial institution, three military-owned hotels, two military-owned scuba diving centers and one military-owned marine park for tourists.

"In particular, the addition of financial institution FINCIMEX to the Cuba Restricted List will help address the regime's attempts to control the flow of hard Currency that belongs to the Cuban people. The people should have the freedom to decide what to do with their own money," Pompeo said.

The bulk of Cuba's tourism industry is owned and operated by the Cuban military, the statement noted.