President Donald Trump has put a stop to the flow of Venezuelan oil and financial aid to Cuba, urging Havana to negotiate a deal with Washington.
Trump’s move comes amidst escalating tensions between the U.S. and Cuba, a long-standing adversary. Venezuela, which is Cuba’s primary oil supplier, has not shipped any cargoes to the Caribbean nation since the U.S. capture of Venezuelan President Nicolas Maduro earlier this month, due to a stringent U.S. oil embargo on the OPEC country.
In the meantime, Caracas and Washington are progressing on a $2 billion deal to supply up to 50 million barrels of Venezuelan oil to the U.S.
The proceeds from this deal will be deposited in U.S. Treasury-supervised accounts, marking a significant test of the budding relationship between Trump and interim President Delcy Rodriguez.
In a Truth Social post nn Sunday, Trump made his stance clear, stating, “THERE WILL BE NO MORE OIL OR MONEY GOING TO CUBA – ZERO! I strongly suggest they make a deal, BEFORE IT IS TOO LATE.”
“Cuba lived, for many years, on large amounts of OIL and MONEY from Venezuela. In return, Cuba provided “Security Services” for the last two Venezuelan dictators, BUT NOT ANYMORE! Most of those Cubans are DEAD from last weeks U.S.A. attack, and Venezuela doesn’t need protection anymore from the thugs,” Trump wrote.
Cuba Pushes Back to Defend Its Right to Import Goods
In response to Trump’s message, Cuban Foreign Minister Bruno Rodriguez asserted Cuba’s right to import fuel from any willing suppliers. In a post on X, he refuted claims that Cuba had received financial or other “material” compensation in return for security services provided to any country.
“Like any country, Cuba has the absolute right to import fuel from those markets willing to export it and that exercise their own right to develop their trade relations without interference or subordination to the unilateral coercive measures of EEUU. Right and justice are on Cuba’s side. EEUU behaves like a criminal and uncontrolled hegemon that threatens peace and security, not only in Cuba and this hemisphere, but in the entire world,” he wrote in the post on X.
Despite a decrease in refining capacity, Venezuela remains the largest provider of crude and fuel to Cuba, covering approximately 50% of the island’s oil deficit.
However, according to shipping data, Mexico has recently emerged as a crucial alternative oil supplier to Cuba.
The halt of Venezuelan oil and financial aid to Cuba by the U.S. marks a significant shift in the geopolitical dynamics of the region. This move could potentially impact Cuba’s economy, given that Venezuela is its largest provider of crude and fuel.
Furthermore, the development of a $2 billion deal between Caracas and Washington signifies a potential change in the relationship between the U.S. and Venezuela.
The outcome of these events could have far-reaching implications for the global oil market and international relations.
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