U.S. President Donald Trump declared on Sunday that there will be a halt in the flow of Venezuelan oil and money to Cuba, urging the communist-led island to negotiate with the United States in a move to intensify pressure on the historic U.S. foe.
Venezuela, the main oil provider to Cuba, has not shipped any oil to the Caribbean nation since Venezuelan President Nicolás Maduro’s capture by U.S. forces on January 3, amidst a stringent U.S. oil blockade on the OPEC country, as indicated by shipping data.
In the meantime, Caracas and Washington are in discussions over a $2 billion deal to supply up to 50 million barrels of Venezuelan oil to the U.S., with the revenues set to be held in U.S. Treasury-monitored accounts — a significant test of the developing rapport between Trump and interim President Delcy Rodríguez.
Trump stated on his Truth Social platform, “THERE WILL BE NO MORE OIL OR MONEY GOING TO CUBA — ZERO! I strongly suggest they make a deal, BEFORE IT IS TOO LATE,” emphasizing Cuba’s past reliance on Venezuelan oil and funds.
The specifics of Trump’s proposed deal were not provided, though U.S. officials have toughened their stance against Cuba recently.
Cuban Foreign Affairs Minister Bruno Rodríguez contended on a social media platform that Cuba has the right to import fuel from any willing exporters. He denied allegations of receiving financial or other compensations for security services rendered to any nation.
Following the U.S. incursion in Venezuela, resulting in the deaths of 32 members of Cuba’s armed forces and intelligence personnel, Cuba clarified that those slain individuals were tasked with security and defense duties. Cuba, heavily dependent on imported crude and fuel, mainly from Venezuela and in smaller quantities from Mexico, acquires resources from the open market to sustain its energy needs.
Although Venezuela’s provision of crude and fuel to Cuba has diminished due to dwindling refining capabilities, the South American nation remains the primary supplier, exporting approximately 26,500 barrels per day last year, covering about half of Cuba’s oil deficit.
Mexico has emerged as a critical alternative oil supplier to Cuba in recent weeks, although the supply remains limited, according to shipping data. Mexican President Claudia Sheinbaum acknowledged that while supply volumes have not increased, Mexico has become a significant crude supplier to Cuba due to recent events in Venezuela.
U.S. intelligence reports paint a challenging economic and political landscape for Cuba, with critical sectors like agriculture and tourism under strain from blackouts and trade restrictions. The potential loss of Venezuelan oil imports and support poses governance challenges for President Miguel Diaz-Canel, despite Trump’s assertion that the island is on the brink of collapse, according to Reuters sources familiar with confidential assessments.