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RIO DE JANEIRO, BRAZIL - The U.S. State Department on Friday, January 1st, added a Cuban commercial bank to its restricted list, saying it will prevent the Cuban military from benefiting from financial transactions.

The State Department placed Banco Financiero International S.A. on the Cuba Restricted List starting in early January, calling it “a Cuban military-controlled commercial bank that benefits directly from financial transactions at the expense of the Cuban people.”

By placing BFI on the list, it bars U.S. companies from making direct financial transactions with the bank.

BFI did not immediately respond to Reuters' requests . . .

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