Venezuela and Cuba strengthened ties just after Chavez rose to energy in 1999
DW: Venezuela crisis: Is Cuba’s oil provide beneath threat?
For years, Cuba has received significant quantities oil from Venezuela. But with the government in Caracas in turmoil and President Nicolas Maduro beneath growing stress, is the nation at threat of losing its power provide?
Financial ties amongst Cuba and Venezuela have been close ever considering the fact that Hugo Chavez became Venezuelan president 1999. Twenty years later, Venezuela nevertheless is Cuba’s second most vital trading companion just after China.
These days, Venezuela is marred by political turmoil and President Nicolas Maduro’s days could be numbered. What would this imply for Cuba?
“Most of Cuba’s power consumption is covered by Venezuelan oil, and receiving oil from elsewhere would throw Cuba into crisis,” mentioned Bert Hoffmann, a senior analysis fellow at the German Institute of International and Region Research. Such a situation, he added, would lead to “dire austerity measures, which would imply immense hardship for the Cuban population.”
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WNU Editor: Venezuela is on the brink of not even getting adequate oil for itself, let alone export. For Cuba, they greater appear for other suppliers. My prediction. They are going to beg Russia for oil shipments, and at the similar terms that Venezuela was providing them. Will Moscow give Cuba oil …. I hope not.