U.S. President Donald Trump declared on Sunday that there will be no further transfer of Venezuelan oil or funds to Cuba, urging the communist-led island to negotiate with the United States. Venezuela, a major oil supplier to Cuba, has not shipped any oil to the Caribbean nation since the capture of Venezuelan President Nicolás Maduro by U.S. forces on January 3, amidst a strict U.S. oil embargo on Venezuela.
Simultaneously, 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 proceeds to be deposited in U.S. Treasury-monitored accounts. This deal signifies a significant test of the evolving relationship between 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 suggest they make a deal, BEFORE IT IS TOO LATE.” He pointed out that Cuba has historically relied heavily on oil and financial assistance from Venezuela.
Trump did not elaborate on the proposed deal, but U.S. officials have recently escalated their criticisms of Cuba. Cuban Foreign Affairs Minister Bruno Rodríguez defended Cuba’s right to import fuel from any willing suppliers and refuted claims of receiving compensation for security services provided to other countries.
Cuba, heavily dependent on imported crude and fuel, mainly from Venezuela, has seen its oil supply diminish in recent years. While Mexico has emerged as an alternative oil supplier, the volume remains limited. U.S. intelligence reports suggest Cuba is facing economic and political challenges, with sectors like agriculture and tourism strained by various issues. The potential loss of Venezuelan support could further complicate governance for President Miguel Diaz-Canel.