Cuba Faces Economic Crisis as Venezuela's Support Disappears

The recent capture of Venezuelan President Nicolás Maduro by the U.S. has left Cuba in a precarious situation, losing its primary ally and oil supplier. President Miguel Díaz-Canel acknowledged the complex challenges facing the island, which is already grappling with severe economic difficulties, including inflation soaring from 2% to 70% over the past decade. The decline in trade with Venezuela, which has decreased by 60%, exacerbates Cuba's crisis, as the country relies heavily on imports for basic needs. With Mexico and Russia as its remaining oil suppliers, Cuba's future energy supply hangs in the balance, especially if diplomatic negotiations fail to restore oil shipments from Mexico, which have recently been halted.

Key Details: • Cuba's oil imports from Venezuela have decreased by 60% in the last decade. • Mexico has halted oil shipments to Cuba but is seeking diplomatic solutions. • Cuba's inflation rate has surged from 2% to 70% in the past ten years. • Cuba's economic crisis has been ongoing for several years, leading to blackouts and shortages.