Western Union to close 407 offices in Cuba following new sanctions

Yesterday (27 October 2020), we reported that OFAC had amended the Cuban Assets Control Regulations (CACR) to prohibit people/entities from processing remittances to/from Cuba involving entities under the control of the Cuban military. Cuba’s Foreign Ministry has since announced that Western Union will close its 407 agencies located in Cuba because the new measures prevent it from working with its counterpart …