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US President Donald Trump said on Sunday that no more Venezuelan oil or money would go to Cuba, suggesting that the communist-ruled island reach a deal with Washington, ratcheting up pressure on America’s longtime adversary.
Venezuela is Cuba’s biggest oil supplier, but no cargo has left Venezuelan ports for the Caribbean nation since Venezuelan President Nicolas Maduro was arrested by U.S. forces on Jan. 3, shipping data show.
Meanwhile, Caracas and Washington are negotiating a $2-billion deal to supply the US with up to 50 million barrels of Venezuelan oil, with the money being held in accounts controlled by the US Treasury – a major test of the relationship between Trump and interim President Delsey Rodriguez.
“There will be no oil or money going to Cuba – ZERO! I strongly recommend that they make a deal before it’s too late. “Cuba has lived off oil and money from Venezuela for many years.”
Trump did not elaborate on his proposal. US officials have stepped up talks on Cuba in recent weeks.
Venezuela’s government has launched a massive crackdown on the opposition, arresting journalists and civilians since the ouster of Nicolas Maduro. Caracas journalist Roman Camacho and Venezuelan politician Freddy Guevara talk to Hanomancing tonight about the situation in the country.
Cuba maintains import rights.
Cuban Foreign Minister Bruno Rodriguez said in a post on social media platform X on Sunday that Cuba has the right to import oil from any supplier that wants to export it. He also said that Cuba has accepted monetary or other “material” compensation for security services provided to any country.
32 Cuban military and intelligence personnel were killed in the US invasion of Venezuela. Cuba said those killed were responsible for “security and defense” but did not provide details of the arrangements between the two longtime allies.
Cuba depends on imported crude and oil – mainly supplied by Venezuela, as well as a small amount from Mexico – bought on the open market to run its power plants and vehicles.
As its refining capacity has declined in recent years, Venezuela’s supply of crude and oil to Cuba has declined. But the South American country is still the biggest supplier, exporting 26,500 barrels a day last year, covering 50 percent of Cuba’s oil shortfall, according to ship-tracking data and internal documents from state-run PDVSA.
Mexico has emerged as a key alternative oil supplier to the island in recent weeks, but shipping data shows that supplies are tight.
Mexican President Claudia Schinbaum said last week that her country had not increased supply, but that Mexico had become an “important crude supplier” to Cuba due to recent political events in Venezuela.
The U.S. intelligence agency has revealed a dire picture of Cuba’s economic and political situation, but its assessments provide no clear support for Trump’s prediction that the island is “poised to collapse,” Reuters reported on Saturday, citing three people familiar with the confidential assessments.
The CIA’s view is that key sectors of the Cuban economy, such as agriculture and tourism, have been severely hampered by frequent blackouts, trade embargoes and other problems. The loss of oil and other aid from Venezuela, a key ally for decades, will make governing President Miguel Diaz-Canel even more difficult.