MasterCard to allow transactions in Cuba using U.S.-issued cards

MasterCard Inc (MA.N) said it would remove a block on transactions made in Cuba using its cards issued in the United States, effective March 1.

The United States announced sweeping new rules this month that will significantly ease sanctions on Cuba, opening up the communist-ruled island to expanded U.S. travel, trade and financial activities.

MasterCard said on Friday that it was removing the block following guidance from the U.S. Department of Treasury’s Office of Foreign Assets Control.

(From the: Reuters)

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