Visa, Mastercard and Melia Close Up in Cuba

Cuba is being decimated as major international companies bow to U.S. pressure and cease operations in the Caribbean nation. A U.S. executive order issued in May with a June 5, 2026 deadline threatens to freeze the assets of foreign companies, seize accounts in the United States and prohibits travel by their shareholders, investors and employees of any company that does business with Cuban entities linked to the Grupo de Administración Empresarial S.A. (GAESA), a business conglomerate operated by the Cuban Revolutionary Armed Forces. 

Following the departure of major resort chains Royalton (Blue Diamond) and Iberostar, the latest companies to pull out are Spanish-run Melia Hotels International and in a major blow for travellers, Visa and Mastercard.

Related: Blue Diamond Resorts Pulls Out of Cuba

Melia will cease operations at 15 of the 34 hotels it operates in Cuba, stating the decision was based on “a sense of corporate responsibility and external factors that have significantly affected the operation, legality and security of these establishments.” 

Visa and Mastercard are also choosing to abide by the U.S. sanctions, announcing as of June 6, 2026, consumers will no longer be able to use their credit or debit cards in Cuba. Global Affairs advises Canadian travellers to use cash (CUP, USD or Euros) or pre-paid local card from Clasica and Tropical.

Related: More Disruption for Cuba’s Tourism Economy as Iberostar Pulls Out

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