The Trump administration has escalated pressure on Cuba by imposing financial sanctions on a large business conglomerate managed by Cuba’s military and a joint mining venture involving Cuba and Canada. This move follows the U.S. President’s statement that Cuba is the next target after the military operation in Venezuela earlier this year. The sanctions target Grupo de Administracion Empresarial S.A. (GAESA), a military conglomerate controlling a significant portion of Cuba’s economy, and its Executive President Ania Guillermina Lastres Morera, according to U.S. Secretary of State Marco Rubio.
Additionally, the measures aim at Moa Nickel SA, a joint venture between Sherritt International Corp based in Toronto and Cuba’s state-owned nickel company. This action undermines a key source of foreign exchange for Cuba. The Trump administration has also restricted U.S. travel and remittances to Cuba and discouraged regional allies from engaging Cuban doctors, a program that generates significant revenue for Cuba.
Sherritt International Corp, one of the few companies operating on a large scale in Cuba despite U.S. sanctions, announced the suspension of its direct involvement in joint venture activities in Cuba. The company is repatriating its expatriate employees in Cuba and has requested its partners to do the same. Refinery operations in Fort Saskatchewan, Alta., are unaffected for now.
Cuba’s Foreign Ministry condemned the new U.S. sanctions as aggressive and violative of international law, urging the international community to address what it calls a dangerous escalation of U.S. dominance over Cuba. The U.S. has long demanded economic reforms, reparations for expropriated properties, and fair elections in Cuba, to which Cuba has firmly opposed, citing decades of U.S. sanctions as the root cause of its economic challenges.
U.S. Senator Rubio, emphasizing national security concerns, stated that the sanctions show the U.S. administration’s commitment to pressuring Cuba until it implements necessary political and economic changes. The sanctions coincide with Rubio’s recent talks at the Vatican with Pope Leo, who advocated for dialogue amid rising tensions between the U.S. and Cuba. UN experts have raised concerns about the adverse impact of Trump’s fuel blockade on Cuba’s development and human rights.
