Embargo negli Stati Uniti contro Cuba – Il braccio lungo di Trump raggiunge la postfinanza

Translation:

>__US Embargo Against Cuba – Trump’s Long Arm Reaches Postfinance__

>Sandra S. can’t believe her eyes. She did not expect this. In her hands, she holds a letter from Postfinance: “We are compelled to terminate our business relationship with you and close the associated accounts and services,” the letter reads. Sandra is informed that she has two weeks to find a new bank. When she tries to withdraw money from her account, it’s already no longer possible. Finding a new bank from abroad within such a short time is impossible for her.

>Sandra S. is surprised by the termination. She has been a regular customer for many years, lives in Cuba, and pays higher banking fees as a Swiss citizen living abroad. She is now left wondering how she will continue to receive her AHV pension payments.

>__Not an Isolated Case__

>An investigation by SRF reveals that Sandra S. is not alone. On the contrary, Postfinance is currently systematically terminating customers with any connection to Cuba. The short notice periods raise questions. Either internal controls triggered an alert, or U.S. authorities applied direct pressure on the federally controlled bank. Postfinance remains tight-lipped when asked and provides no comment. Their reaction suggests one thing: fear of Donald Trump has reached the headquarters in Bern.

>__Cuba as a Pawn in U.S. Politics__

>The background behind these abrupt terminations lies in the renewed tightening of U.S. economic sanctions. It has been a back-and-forth situation. In 2016, then U.S. President Barack Obama announced a new era – a historic shift, as it was called. After decades, the U.S. eased the embargo.

>The joy was short-lived. In 2019, Donald Trump tightened the screws again, placed Cuba on the list of terrorist states, and threatened foreign companies and banks doing business with Cuba. Joe Biden, in turn, relaxed the measures at the beginning of the year – but this decision was promptly reversed by Donald Trump. It’s a policy marked by arbitrariness.

>__Swiss Banks Respond__

>Major Swiss banks halted financial transactions with Cuba years ago due to pressure from the U.S. Postfinance remained the only major institution continuing such transactions – until 2019. That’s when Postfinance also ceased relations with Cuba, sparking criticism. Filippo Lombardi, former Council of States member from the Centre party in Ticino, argued in a parliamentary inquiry that Postfinance had a federal mandate to ensure basic payment services, even for retirees abroad.

>The Federal Council responded that this obligation only applies to domestic transactions. While Postfinance, as a Swiss financial institution, is not directly subject to U.S. law, the American sanctions still apply when payments are made in U.S. dollars or processed via a bank located in U.S. jurisdiction. Therefore, Postfinance cannot be obligated to process international payments.

>Today, Postfinance refers to the same arguments. The bank depends on a network of correspondent banks and access to the dollar payment system. However, the question of why the account closures are happening so abruptly remains unanswered.