The U.S. imposed financial sanctions on a large business conglomerate managed by Cuba’s military and a Cuban-Canadian mining joint venture. This move is part of the Trump administration’s efforts to put pressure on Cuba’s communist government by targeting foreign investment sources.
Following the military operation to capture the leader of Venezuela, a close ally of Cuba, President Donald Trump indicated that Cuba would be the next target. Subsequently, most oil shipments to Cuba were blocked, leading to increased power outages on the island.
Recently, President Trump signed an executive order expanding U.S. sanctions on Cuba. This action was criticized by Cuban President Miguel Díaz-Canel as coercive. The order specifically targeted 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.
Additionally, the sanctions affected Moa Nickel SA, a joint venture between Toronto-based Sherritt International Corp and Cuba’s state-owned nickel company. This move disrupted one of Cuba’s primary sources of foreign currency, as stated by Rubio.
The Trump administration has taken various steps to restrict U.S. travel and remittances to Cuba, discourage regional allies from engaging Cuban doctors, and target Cuba’s sources of hard currency. Sherritt, one of the few companies operating on a large scale in Cuba despite U.S. sanctions, announced the suspension of its joint venture activities in Cuba.
In response, Cuba condemned the new U.S. sanctions as ruthless economic aggression and a violation of international law. The Cuban Foreign Ministry called on the international community to address what it described as a dangerous escalation by the United States in attempting to control Cuba’s fate.
The U.S. has long pushed for Cuba to open its state-run economy, compensate for expropriated properties, and hold free and fair elections. However, Cuban officials have defended their socialist government, rejecting negotiations on its form of governance. They attribute Cuba’s economic and social challenges to decades of U.S. sanctions.
Rubio’s recent discussions with military officials at the U.S. Southern Command underscore the U.S. stance on Cuba’s communist regime. The sanctions signify the Trump administration’s commitment to push for political and economic reforms in Cuba until the desired changes are made.