The United States imposed financial sanctions on a large conglomerate of companies controlled by the Cuban military and a Cuban-Canadian mining joint venture. The move comes as the Trump administration increases pressure on the communist leaders by targeting foreign investment sources. After a military raid to capture a Venezuelan ally of Cuba in January, President Trump stated that “Cuba is next on the list,” blocking most oil shipments to the country. Trump recently signed a decree expanding US sanctions against Cuba, which Cuban President Miguel Diaz-Canel called “coercive.”
The sanctions specifically target Grupo de Administracion Empresarial S.A. (GAESA), a military conglomerate that controls a significant portion of the Cuban economy, and its executive president, Ania Guillermina Lastres Morera. The measures also affect Moa Nickel SA, a joint venture between Toronto-based Sherritt International Corp and a Cuban state company specializing in nickel mining.
Sherritt announced the immediate suspension of its direct participation in the Cuban joint venture. The US has long demanded economic reforms, reparations for expropriated properties, and “free and fair” elections in Cuba. Cuban officials insist that their socialist government is not negotiable and blame decades of US sanctions for their economic hardships.
Senator Rubio, who met with military officials in Florida, justified the sanctions as a response to the Cuban regime’s threat to national security. He stated that the Trump administration will continue to act until Cuba implements all necessary political and economic reforms. The sanctions were announced shortly after Rubio’s meeting with Pope Francis at the Vatican, where the Pope expressed concerns about rising tensions between the US and Cuba and called for dialogue.
