Trump and Rubio allies are vying for control of Cuba’s assets if regime falls
Summary
Various U.S. and international investors, including allies of President Donald Trump and Secretary of State Marco Rubio, are competing to control valuable Cuban assets amid tough U.S. sanctions on the island. These sanctions have pushed out many foreign companies and created new business opportunities for these insiders if the Cuban government falls.Key Facts
- The U.S. has imposed strict secondary sanctions on Cuba, causing many foreign companies to leave the country.
- President Trump signed an executive order in May that forced Canada’s Sherritt International out of a mining deal with Cuba.
- Two rival U.S. groups led by Trump supporters are competing to buy Sherritt’s stake in Cuban mining.
- Australian company Antilles Gold was blacklisted but then allowed by the U.S. government to negotiate transferring its Cuban mining stake to an American investment fund.
- Trump Organization executives have returned to Cuba recently to explore real estate deals and meet with relatives of Cuba’s former leaders.
- Secretary of State Marco Rubio has held quiet talks with Raúl Guillermo Rodríguez Castro, grandson of former Cuban president Raúl Castro.
- Spanish hotel chains Meliá and Iberostar have left Cuba, creating new openings for investors.
- The situation is part of a broader effort by the U.S. to increase economic pressure on Cuba and limit foreign influence on the island.
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