UBS And Credit Suisse Discontinue Cuban Business Relations

UBS and Credit Suisse say that they are no longer doing business with Cuba. Representatives of both banks say they have ceased relations with the country, along with Iran, North Korea and Syria. "We have not been conducting business with

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UBS and Credit Suisse say that they are no longer doing business with Cuba. Representatives of both banks say they have ceased relations with the country, along with Iran, North Korea and Syria.

“We have not been conducting business with the Cuban financial sector since 2005, while Credit Suisse ended relations at the beginning of 2006,” says a spokesperson for UBS.

UBS is now refusing to do business with individuals or institutions resident on the Caribbean island, and will not execute payments to Cuba.

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