U.S. President Donald Trump announced on Sunday that there will be a halt in the supply of Venezuelan oil and funds to Cuba, suggesting that Cuba should consider negotiating with the United States. This move intensifies pressure on the historical U.S. adversary.
Venezuela, a major oil provider for Cuba, has not shipped any oil to the Caribbean nation since Venezuelan President Nicolás Maduro’s capture by U.S. forces on January 3. The strict U.S. oil blockade on Venezuela has led to this halt in oil shipments to Cuba.
At the same time, there are ongoing discussions between Caracas and Washington regarding a $2 billion deal for the United States to receive up to 50 million barrels of Venezuelan oil. The proceeds from this deal would be held in U.S. Treasury-monitored accounts. This deal represents a significant test for the evolving relationship between President Trump and interim President Delcy Rodríguez.
In a post on his social media platform, Trump emphasized, “There will be no more oil or money going to Cuba — zero! I strongly recommend they engage in negotiations before it’s too late.” He highlighted that Cuba has heavily relied on oil and financial support from Venezuela for many years.
While Trump did not provide details on the suggested deal, U.S. officials have recently toughened their stance towards Cuba.
Cuban Foreign Affairs Minister Bruno Rodríguez defended Cuba’s right to import fuel from any willing suppliers, emphasizing that Cuba has not received material compensation for security services it provides to other countries.
Cuba depends on imported crude and fuel, primarily from Venezuela, along with smaller amounts from Mexico, to sustain its power generators and transportation systems. Despite Venezuela’s diminishing refining capacity in recent years, it remains Cuba’s primary oil provider. However, Mexico has emerged as an important alternative oil supplier for Cuba in recent times.
U.S. intelligence reports have raised concerns about Cuba’s economic and political stability, indicating challenges in sectors like agriculture and tourism due to factors like power outages and trade sanctions. The potential loss of oil imports and support from Venezuela could further strain Cuba’s governance under President Miguel Diaz-Canel.