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Cuba's Economic Crisis Deepens Amid Venezuelan Oil Cutbacks

1/10/2026

31 5 Full Breakdown

Summary

Story summary

Cuba faces its worst economic crisis in 67 years, worsened by U.S. pressure on Venezuela's new president Delcy Rodríguez to halt oil supplies.
Cuba relied on about 35,000 barrels of oil daily from Venezuela, leaving power and basic services vulnerable.
Experts warn that Cuba's internal model lacks accountability and initiative, risking deeper instability as reforms do not occur and external support is lost.

History

Historical Context

Following the Soviet Union's collapse in 1991, Cuba's economy plummeted, with GDP shrinking by 35% and severe shortages of food and fuel. The "Special Period" ensued, prompting shifts to organic agriculture and increased reliance on Venezuelan oil, which now supplies 35,000 barrels daily. Current U.S. sanctions on Venezuela threaten to deepen Cuba's economic instability and undermine essential services.

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Story summary

Cuba faces its worst economic crisis in 67 years, worsened by U.S. pressure on Venezuela's new president Delcy Rodríguez to halt oil supplies.
Cuba relied on about 35,000 barrels of oil daily from Venezuela, leaving power and basic services vulnerable.
Experts warn that Cuba's internal model lacks accountability and initiative, risking deeper instability as reforms do not occur and external support is lost.

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