Canadian miner Sherritt International Corp. has halted nickel operations in Cuba under US pressure, dealing a severe blow to an economy already starved for hard currency. The shutdown eliminates a critical revenue stream for Cuba at a time when foreign exchange reserves remain dangerously low, according to economic analysts monitoring the Caribbean nation.

Beyond the immediate production halt, Cuba faces further financial losses from its share of Alberta refining operations and a metals-commercialization venture in the Bahamas, former University of Havana economist Omar Everleny Perez confirmed. These dual revenue streams represented vital sources of foreign currency for the cash-strapped government.

The US pressure forcing Sherritt's withdrawal underscores the deepening economic isolation facing Cuba. With nickel exports traditionally accounting for a substantial portion of export earnings, the mining shutdown compounds existing shortages of fuel and basic necessities, leaving the island nation with fewer options to address its mounting economic challenges.