economy

How to Break Cuba

Inside the Trump administration’s high-stakes fight over the island’s strategic minerals

How to Break Cuba

TL;DR

  • The Trump administration has imposed new sanctions on companies doing business with Cuba, significantly expanding the existing embargo.
  • These sanctions have forced Sherritt International, a Canadian nickel and cobalt miner, to dissolve its partnership with Cuba's state-owned General Nickel Company.
  • The U.S. views Cuba's nickel and cobalt deposits as strategically important, especially amid global competition for critical minerals with China.
  • The administration's actions are part of a broader strategy to reduce U.S. reliance on Chinese supplies and to counter Russian and Chinese influence.
  • A potential deal involving Sherritt's stake could return Cuban mines to U.S. ownership, aligning with U.S. mineral supply chain goals.
  • Cuba could potentially leverage the situation by offering stakes to allies like China or Russia if the U.S. pressure continues.