The Revolution’s Last Lifeline
The Trump administration expanded sanctions on Cuba targeting its nickel and cobalt industries, forcing Sherritt International to dissolve its partnership with the state-owned General Nickel Company. The move exacerbates Cuba’s economic crisis, already strained by U.S. blockades on oil imports and widespread shortages of goods and electricity.
The Trump administration has intensified pressure on Cuba by targeting its nickel and cobalt industries, critical to the island’s economy. A May 1 executive order expanded sanctions to resemble those against Iran, Russia, and North Korea, effectively tightening the U.S. embargo. Within days, Sherritt International, a Canadian miner, announced it would dissolve its joint venture with Cuba’s state-owned General Nickel Company, ending operations at the Moa Nickel complex and related energy projects. The decision deals a severe blow to Cuba’s already struggling economy, where U.S. blockades have halted Venezuelan and Mexican oil shipments, leaving factories idle and public transportation crippled. President Miguel Díaz-Canel condemned the sanctions as ‘collective punishment’ on Cubans, who face chronic shortages of basic goods and frequent blackouts. Nickel, Cuba’s third-largest export in 2024, primarily went to China before the latest restrictions. The sanctions follow other aggressive U.S. actions, including indictments against former Cuban leader Raúl Castro for alleged crimes dating back 30 years and a CIA visit to Havana. The USS Nimitz’s deployment to the Caribbean mirrors past U.S. maneuvers aimed at regime change, such as those in Venezuela. Secretary of State Marco Rubio marked Cuban Independence Day with a video accusing Havana’s government of causing the country’s hardships. Sherritt’s suspension of operations at Moa Nickel, one of Cuba’s last major foreign partnerships, marks the end of a 1994 deal that had kept the industry afloat after the Soviet Union’s collapse. The Canadian company had provided capital, refining technology, and global market access in exchange for Cuban ore and labor. With this lifeline severed, Cuba’s nickel exports—once a key revenue source—are now under direct U.S. threat, deepening the island’s economic isolation.
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