The Globe and Mail reports in its Friday, May 8, edition that Sherritt International is halting operations in Cuba, and three directors have resigned following expanded United States sanctions targeting the island. The Globe's Niall McGee writes that the Trump administration has intensified pressure on Cuba to encourage regime change, notably by restricting oil imports.
On May 1, the U.S. brought further sanctions against Cuba in an executive order targeting companies and individuals operating in metals, mining and other sectors.
Sherritt has been heavily reliant on the Caribbean island for decades with a 50-per-cent interest in the Moa joint venture, which mines, processes and refines nickel and cobalt. It also has a sizable power division in Cuba with a one-third stake in Energas, the largest independent energy producer on the island.
Sherritt said Thursday it has suspended its joint venture operations in Cuba, effective immediately. While the company has not been formally designated under the executive order, such a designation could occur at any time, it added.
"The mere issuance of the executive order itself creates conditions that materially alter the corporation's ability to operate."
© 2026 Canjex Publishing Ltd. All rights reserved.