U.S. President Donald Trump announced on Sunday that there will be no further supply of Venezuelan oil or financial aid to Cuba. He proposed that Cuba should engage in negotiations with the United States, increasing pressure on the historical U.S. rival.
Cuba’s primary oil source, Venezuela, has not shipped any oil to the Caribbean nation since the U.S. military seized Venezuelan President Nicolás Maduro on January 3 amid an oil embargo on Venezuela. Simultaneously, Caracas and Washington are in talks for a $2 billion deal to deliver up to 50 million barrels of Venezuelan oil to the U.S., with the revenue held in U.S. Treasury-monitored accounts, testing the relationship between Trump and interim President Delcy Rodríguez.
In a post on his Truth Social platform, Trump emphasized, “There will be no more oil or money going to Cuba — zero! I strongly suggest they make a deal, before it is too late.” He pointed out Cuba’s historical reliance on oil and financial assistance from Venezuela.
The details of Trump’s proposed deal were not disclosed, although U.S. officials have toughened their stance against Cuba recently.
Cuban Foreign Affairs Minister Bruno Rodríguez defended Cuba’s right to import fuel from any willing exporter. He refuted claims of financial exchanges for security services provided by Cuba, mentioning that 32 Cuban armed forces and intelligence members were killed in the U.S. raid on Venezuela.
While Cuba heavily relies on imported crude and fuel, mainly from Venezuela and to a lesser extent from Mexico, Venezuela’s declining refining capacity has led to reduced oil exports to Cuba. Despite this decline, Venezuela remains the largest provider, with approximately 26,500 barrels per day exported last year, covering half of Cuba’s oil deficit.
Mexico has emerged as an additional oil supplier to Cuba, albeit on a smaller scale. Mexican President Claudia Sheinbaum acknowledged Mexico’s increased role as a crude supplier to Cuba due to recent political shifts in Venezuela.
According to U.S. intelligence reports, Cuba’s economic and political situation is described as challenging. The CIA highlighted the strain on key sectors like agriculture and tourism due to power outages and trade restrictions. The potential loss of Venezuelan support could further complicate governance for President Miguel Diaz-Canel.