Marco Rubio revealed sanctions on Thursday, escalating Trump administration’s pressure campaign against Havana’s military-controlled economy
2-MIN READ2-MIN ListenTeresa Elena Frontadoin WashingtonPublished: 2:15am, 8 May 2026The Trump administration has expanded its pressure campaign against Cuba into the critical minerals sector, sanctioning a nickel joint venture tied to Canadian miner Sherritt International in a move that could reverberate through China-linked battery supply chains.Secretary of State Marco Rubio announced sanctions on Thursday against Moa Nickel SA, a joint venture between Sherritt and Cuba’s state-owned General Nickel Company, as part of a broader effort targeting Havana’s military-controlled economy.Hours earlier, Sherritt said it had suspended its direct participation in joint-venture activities in Cuba “effective immediately” and had begun repatriating expatriate employees from the island. The company also said it had asked partners to repatriate personnel in Canada.Advertisement
Three Sherritt directors, including chairman Brian Imrie, also resigned with immediate effect.
Sherritt said sanctions measures announced by Washington on May 1 had already “materially alter[ed]” its ability to operate normally in Cuba. In addition to the Moa joint venture, the company owns a one-third stake in Energas, which accounts for about 10 per cent of Cuba’s electricity generation capacity.
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Trump vows to ‘take’ Cuba as island reels from total power cut linked to oil embargo
Trump vows to ‘take’ Cuba as island reels from total power cut linked to oil embargoUnder President Donald Trump’s Executive Order 14404, issued on May 1, the United States can block the assets of foreign individuals or entities operating in key sectors of the Cuban economy – including energy, financial services, mining and defence – or providing material, financial or technological support to the government.AdvertisementAdvertisementSelect VoiceSelect Speed0.8x0.9x1.0x1.1x1.2x1.5x1.75x00:0000:001.00x
