The Trump administration’s expansion of sanctions against Cuba is reshaping the island’s economic landscape, prompting U.S. business figures, political allies, and Cuban-American investors to explore new opportunities. The intensified sanctions have led foreign companies to scale back or withdraw from sectors like mining, tourism, and banking, creating openings for American interests.
Cuba’s mining industry has garnered significant attention, particularly following increased pressure on Canadian company Sherritt International. Two U.S. groups have reportedly submitted rival bids to acquire Sherritt’s stake in a nickel and cobalt mining venture. One proposal involves Ray Washburne, a businessman with close ties to former President Trump, while the other is led by Texas investor Albert Huddleston, who also has connections to the White House.
In a related development, Antilles Gold, based in Australia, is negotiating to transfer its interest in a Cuban copper-gold project to the U.S.-based Global Emerging Markets. This move comes after Antilles faced challenges due to U.S. sanctions targeting its Cuban activities.
The tourism and real estate sectors in Cuba are also attracting renewed interest from U.S. business executives, particularly those linked to the Trump Organization. As major European hotel chains reduce their presence, these entrepreneurs are investigating potential ventures on the island.
Meanwhile, U.S. companies involved in trade and logistics are benefiting from the new economic dynamics. Oil exports from Florida and Texas to Cuba’s private sector have surged, and Florida-based shipping companies are seeing increased demand as international carriers encounter difficulties in serving Cuba.
Lobbying firms and organizations with connections to Trump and Secretary of State Marco Rubio are actively participating in discussions about Cuba’s economic future. They are advising businesses on investment opportunities and exploring plans for energy development and compensation for properties confiscated by the Cuban government.
Amid these developments, Cuban-American groups are positioning themselves for a potential political and economic transition on the island. Investors and former officials are discussing strategies to attract significant private investment from Cuban exiles, should a major political shift occur.