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Cuba suspends consular services as US bank declines deposits

Published:Saturday | February 15, 2014 | 6:08 PM

Cuba has suspended consular services in the United States (US) following a decision by an American bank to stop accepting deposits on its behalf.



The decision by M&T Bank to stop accepting deposits on behalf of the Communist regime was announced last year and takes effect Monday.



The bank says the decision was taken for business reasons.



The Cuban government says it will not be able to renew passports and process visas unless it finds an alternative and blames the trade embargo imposed by the US for its failure to find a new bank.



Political watchers say the move could prevent tens of thousands of people from travelling between the US and Cuba and will have a significant impact on the Cuban economy.



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