U.S. President Donald Trump declared on Sunday that there would be a halt to the flow of Venezuelan oil and funds to Cuba, urging the communist-led island to negotiate with the United States. Recent data indicates that no oil shipments have left Venezuelan ports for Cuba since the capture of Venezuelan President Nicolás Maduro by U.S. forces on January 3 under a strict U.S. oil blockade.
At the same time, Caracas and Washington are advancing on a $2 billion deal to provide up to 50 million barrels of Venezuelan oil to the U.S., with the earnings to be held in U.S. Treasury-controlled accounts — a significant test of the developing relationship between Trump and interim President Delcy Rodríguez.
Trump emphasized 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.” He highlighted Cuba’s historical reliance on substantial oil and financial support from Venezuela but did not specify the terms of the proposed deal.
Cuban Foreign Affairs Minister Bruno Rodríguez defended Cuba’s right to import fuel from any willing suppliers and refuted claims of receiving direct compensation for security services provided to other nations. Following the U.S. raid on Venezuela, where 32 Cuban armed forces and intelligence members were killed, Cuba acknowledged their involvement in security and defense but withheld specifics on their collaboration with Venezuela.
Despite diminishing refining capabilities in Venezuela, the country remains Cuba’s primary oil provider, exporting around 26,500 barrels per day last year. While Mexico has emerged as an alternative supplier, the supply volume remains limited. Mexican President Claudia Sheinbaum highlighted that Mexico, without increasing supply levels, has become a crucial crude supplier to Cuba due to recent political dynamics in Venezuela.
U.S. intelligence reports have depicted a challenging economic and political landscape in Cuba, with strained sectors like agriculture and tourism facing hardships. The potential reduction in oil imports and support from Venezuela could further complicate governance for President Miguel Diaz-Canel, according to assessments from the CIA.
