What is the most immediate and severe economic impact of Sherritt International’s withdrawal from Cuba, according to Cuban expert Omar Everleny Perez?

According to Omar Everleny Perez, the former director of the Center for Cuban Economic Studies at the University of Havana, 'The biggest problems are going to show up in electricity production' — because Sherritt’s joint venture Energas SA, in which it holds a one-third stake, accounts for about 10% of Cuba’s national power capacity and produces the reserve energy needed to restart the country’s aging thermoelectric plants after chronic blackouts.

Why does US Secretary of State Marco Rubio say Sherritt International was targeted by the latest sanctions?

US Secretary of State Marco Rubio stated Sherritt was targeted because it 'has exploited Cuba’s natural resources to benefit the regime at the expense of the Cuban people,' specifically noting that it was using assets expropriated from US citizens shortly after the 1959 revolution.

Cuba Faces Devastating Ripple Effects From US Sanctions on Mining

May 8, 2026

Sherritt International halted nickel operations in Cuba due to US sanctions, impacting the economy and energy supply via its stake in Energas. The move reduces Cuba's top export revenue and exacerbates power shortages amid tightening restrictions.

bloomberg

2026-05-08

Cuba Faces Devastating Ripple Effects From US Sanctions on Mining

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Sherritt halts plan to dissolve Cuba nickel mining venture amid US sanctions

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