Western Union hopeful of resuming Cuba services
Reuters | Tuesday, 19 January 2021 | Click here for original article
LONDON (Reuters) - Western Union is hopeful it will be able to resume offering money transfer services to Cuba as it looks forward to policy steps beneficial to the firm under the U.S. Biden administration, its chief financial officer said on Tuesday.
The firm suspended operations across Cuba in November as new United States sanctions kicked in, cutting a key lifeline for many Cuban families at a time when the COVID-19 pandemic has worsened the Communist-run island’s economic crisis.
U.S. President-elect Joe Biden has promised to roll back some sanctions on remittances, although in a move that could complicate any efforts by Biden to revive ties with Havana, the Trump administration last week announced it was returning Cuba to the U.S. list of state sponsors of terrorism.
“We’re hopeful that, putting aside any concerns that there may be from the administration standpoint, that they allow us to move the money for people who want to move money to their loved ones,” Raj Agrawal told Reuters.
