economy
How to Break Cuba
Inside the Trump administration’s high-stakes fight over the island’s strategic minerals
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.