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Cuban and U.S. banks sign agreement

stonegate  bank

Cuba’s International Commerce Bank and the U.S. Stonegate Bank reached the first important financial accord to be signed since the reestablishment of diplomatic relations between the two countries July 20. Established was an understanding on correspondence, a standard practice between banks to facilitate transactions. Sources noted that, in this specific case, existing restrictions imposed by the U.S. blockade must be taken into consideration.