U.S. President Donald Trump declared on Sunday that there would be a halt to the flow of Venezuelan oil and money to Cuba, urging the communist-led nation to negotiate with the United States. Cuba heavily relies on oil imports from Venezuela, but shipments have ceased since Venezuelan President Nicolás Maduro was apprehended by U.S. forces on January 3, amidst an American oil blockade on Venezuela.
Simultaneously, Caracas and Washington are advancing on a $2 billion deal to supply up to 50 million barrels of Venezuelan oil to the U.S., with the funds placed in U.S. Treasury-monitored accounts. This agreement serves as a crucial test of the evolving rapport between Trump and interim President Delcy Rodríguez.
In a statement 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 highlighted Cuba’s historical dependence on oil and financial aid from Venezuela without specifying the terms of the proposed agreement. Recent weeks have seen a toughening stance by U.S. officials towards Cuba.
Cuban Foreign Affairs Minister Bruno Rodríguez asserted Cuba’s right to import fuel from any willing suppliers, refuting claims of receiving compensation for security services provided to other nations. Following the U.S. raid on Venezuela, where 32 Cuban military and intelligence personnel lost their lives, Cuba disclosed that the deceased individuals were involved in security and defense roles, yet details of the alliance with Venezuela remained undisclosed.
Cuba, facing dwindling refining capacity, relies on imported oil and fuel, primarily from Venezuela and to a lesser extent Mexico, for its energy needs. Despite the decrease in oil supply from Venezuela in recent years, it remains Cuba’s primary oil source, supplying approximately 26,500 barrels per day in the previous year. Mexico has emerged as a vital alternative oil supplier to Cuba, albeit on a smaller scale.
While U.S. intelligence reports suggest Cuba’s economy and governance are under strain due to chronic power outages, trade embargoes, and other challenges, they do not align with Trump’s assertion that Cuba is on the brink of collapse. The loss of Venezuelan oil imports and support could exacerbate governance challenges for President Miguel Diaz-Canel.
