US allows mining firm Sherritt to deliver fuel to Cuba

HAVANA: Mining company Sherritt, which halted operations in Cuba over US sanctions, on Tuesday said Washington was allowing it to send fuel and other materials needed for nickel extraction to the island.The Canadian firm has mined nickel and cobalt in a joint venture with Cuba's state-owned General Nickel Company S.A. since the 1990s.Tuesday's announcement aims to allow a future resumption of its activities at the Moa mine after US sanctions pushed it to withdraw from the country in early May.Soon afer its withdrawal, however, Sherritt reversed the decision to liquidate its assets and said it was negotiating the sale of 55 percent of its shares with Gillon Capital -- a deal that would make the US firm Sherritt's majority shareholder.Gillon is owned by Ray Washburne, who served as president of the US government's development finance institution during President Donald Trump's first stint in the White House."The Fuel License" granted by the US Office of Foreign Assets Control (OFAC) "authorizes the sale, transportation, export, delivery and payment for fuel, fuel oil, and sulfur to Moa Nickel, together with all related services," Sherritt stated.Talks with OFAC, the body that doles out Cuba sanctions, took place in close coordination with Gillon Capital, according to Tuesday's statement."The actual restart of operations at Moa Nickel remains subject to receipt of a second OFAC emergency license," it added.Washington imposed an energy blockade on Cuba in January, allowing only fuel shipments from the US and destined for the private sector to get through.Trump has openly mused about seizing control of the island, claiming that it poses a threat to US national security.(From news agency AFP)You use AI every day. Now get your AI Quotient. Take the AIQ test.