Venezuela and Cuba strengthened ties after Chavez rose to power in 1999
DW: Venezuela crisis: Is Cuba's oil supply under threat?
For years, Cuba has received large quantities oil from Venezuela. But with the government in Caracas in turmoil and President Nicolas Maduro under increasing pressure, is the country at risk of losing its energy supply?
Economic ties between Cuba and Venezuela have been close ever since Hugo Chavez became Venezuelan president 1999. Twenty years later, Venezuela still is Cuba's second most important trading partner after China.
Today, Venezuela is marred by political turmoil and President Nicolas Maduro's days could be numbered. What would this mean for Cuba?
"Most of Cuba's energy consumption is covered by Venezuelan oil, and getting oil from elsewhere would throw Cuba into crisis," said Bert Hoffmann, a senior research fellow at the German Institute of Global and Area Studies. Such a scenario, he added, would lead to "dire austerity measures, which would mean immense hardship for the Cuban population."
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WNU Editor: Venezuela is on the brink of not even having enough oil for itself, let alone export. For Cuba, they better look for other suppliers. My prediction. They are going to beg Russia for oil shipments, and at the same terms that Venezuela was giving them. Will Moscow give Cuba oil .... I hope not.
2 comments:
I suspect Russia will supply oil to prop up Cuba as they are propping up Venezuela. This is a disaster for Russia, but not sure if Putin cares.
As long as Russia is playing hard ball with China , Iran, & North Korea against the USA, I hope Russia is propping up Cuba. I hope it bleeds them white and I hope they fail.
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