US EditionWhat Would Happen to Cuba's Economy if It Lost the Oil Sent to It by Venezuela?
- Nicolás Maduro, the former Venezuelan leader, has been captured, raising questions about Cuba's future without Venezuelan oil, its main support.
- Cuban officials reported that 32 soldiers were killed in a U.S. operation in Venezuela to capture Maduro, highlighting the close ties between Cuba and Venezuela.
- Cuba's economy is suffering from rampant poverty and shortages of essential goods and services, described as the worst since the communist takeover.
- Experts believe Cuba's economic troubles stem from both U.S. sanctions and internal mismanagement, indicating that conditions are likely to deteriorate further.
16 Articles
16 Articles
By Gonzalo Zegarra, CNN en Español “I don’t know if they’ll be able to hold out, but Cuba now has no income. All of its income came from Venezuela, from Venezuelan oil,” said US President Donald Trump, painting a bleak picture for the island, which depends on assistance from Caracas to meet even half of its energy needs. A sudden change in this situation would be a fatal blow to the Castro regime’s economy, although analysts point out that aid c…
After Venezuela, there is no other country in the Americas that has been more affected by the recent events in Caracas than Cuba. Venezuela supplies Cuba with about 35,000 barrels of oil a day—none of the island’s other major energy partners, Russia or Mexico, come close. What could the US’s actions in Venezuela mean for Cuba? The two countries have shared a political vision of state-run socialism since 1999, when young Venezuelan presidential c…
Cuba's dependence is aggravated by its inability to buy crude oil on the international market and by the lack of viable economic alternatives.
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