Cuba will suspend Visa and Mastercard transactions beginning June 6 after a foreign partner that had processed credit card payments on the island decided to curtail operations in response to sweeping new U.S. sanctions, according to Reuters.

Cuba’s central bank said the suspension stems from a May 1 executive order by President Donald Trump that broadly expanded sanctions on commerce with Cuba. The foreign partner’s withdrawal means Cuba can no longer receive payment through internationally recognized card networks, the central bank said in a statement cited by the news agency. 

Credit card transactions in Cuba have historically been processed through a foreign bank and Fincimex, S.A., a financial arm of GAESA, a military-run conglomerate that is among the targets of the Trump administration’s sanctions, Reuters said. U.S. officials have accused GAESA of secretly hoarding profits from Cuba’s most valuable industries—including tourism, financial transactions, remittances and logistics—for the benefit of the military and Cuban elite. 

The suspension is the latest blow to Cuba’s economy and its already weakened tourism sector as the Trump administration intensifies sanctions pressure aimed at unseating the island’s Communist-run government. The May 1 executive order has triggered a broader exodus of foreign businesses from Cuba in recent weeks, including hotel companies, airlines, and global shipping firms seeking to distance themselves from sanctioned Cuban institutions, according to the report.