Banking Cutoffs Squeeze Cross-Border Media Offices
Operators running international correspondent offices face service losses that the Prensa Latina vice president says demand coordinated responses.
Updated on Nov. 3, 2026 in Media
Prensa Latina Information Vice President Alejandro Gomez called on Global South media outlets to coordinate their work while speaking before the Belt and Road News Network (BRNN) Council in Beijing. Gomez denounced economic, political and media pressure from the United States on Cuba against the Havana-based agency, which is a BRNN Council member.
Why it matters
Gomez said current conflicts, military escalation risks, hegemonic ambitions and threats against truth-reporters make coordination more urgent. He cited banking and telecom cutoffs as direct obstacles to the work of Prensa Latina's correspondent offices, a concrete example of how financial-service access shapes media operations.
The Belt and Road News Network brings together more than 320 media outlets from about 120 countries, the scale of the coordination network Gomez proposed joining. Prensa Latina's Havana headquarters faces power outages lasting up to 20 hours a day, while the agency's Washington correspondent office lost banking services from Wells Fargo and Bank of America.
The players
Prensa Latina
Havana-based state news agency of Cuba that operates international correspondent offices and is a member of the BRNN Council.
Belt and Road News Network (BRNN)
Media network of more than 320 outlets from about 120 countries, organized around coordination of news content among Belt and Road partner states.
Wells Fargo
Large U.S. bank that closed banking services for Prensa Latina's Washington correspondent office.
Bank of America
Major U.S. bank that discontinued services to the same Prensa Latina Washington correspondent office.
AT&T
Large U.S. telecommunications provider that suspended telephone and internet services for Prensa Latina in Mexico.
The details
Gomez described a sequence of service losses: Wells Fargo closed banking services for the Washington correspondent office last year, Bank of America discontinued services to the same office, and AT&T suspended telephone and internet service in Mexico. An Italian bank demanded additional guarantees on financial transfers because the funds originated in Cuba. Gomez framed these cutoffs as direct hindrances to correspondent operations, not isolated commercial decisions.
Timeline
Last year: Wells Fargo closed banking services for the Washington correspondent office.
November 3, 2026: Gomez called for Global South media coordination before the BRNN Council in Beijing.
Market Landscape
Financial de-risking tied to the U.S. Cuba sanctions program has pushed banks and telecom providers to drop Cuba-linked clients even where the reported actions are commercial decisions. The episode places Prensa Latina's service losses within a wider pattern of state-linked media outlets competing for correspondent banking and cross-border telecom access, as the BRNN expands coordination among non-Western media.
Operators in cross-border media and any business relying on correspondent banking should review whether their banking and telecom providers have restricted service to counterparties with Cuba-linked funds or operations. Treat banking-access risk as a live operating issue, and consult qualified counsel or an accountant before changing payment or contracting arrangements.
The takeaway
Banking and telecom access can be disrupted by counterparty risk even without a formal legal prohibition, so cross-border operators should track service-termination notices closely. Route any response to a service cutoff through qualified counsel or an accountant.
Further reading
For broader context on how news organizations are structured and funded, explore our Media coverage.
