Full Breakdown
Cuba’s Trade Deputy Refutes Trump-Linked Business Visits Amid Sanctions-Driven Reform Stalemate
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Cuba’s Trade Official Denies Trump-Linked Business Talks
On September 29, Oscar Perez-Oliva Fraga, Cuba’s deputy prime minister and foreign trade minister, told Reuters he had no knowledge of any company directly linked to President Donald Trump contacting Cuban authorities. He dismissed circulating reports that Trump-affiliated firms had visited the island this year to discuss business opportunities.
Reform Push and U.S. Sanctions
Earlier this year Cuba announced unprecedented free-market reforms, the most sweeping changes to its socialist economy since Fidel Castro assumed power in 1959. Perez-Oliva said the reforms could advance only if Washington eases the trade embargo, which includes an oil blockade imposed in January that has sharply reduced fuel imports from Mexico, Venezuela and other traditional suppliers. He noted that U.S. policy forces Cuba’s economic dependence and that the embargo prevents U.S. companies from investing, trading or conducting any business with Cuba.
The sanctions have also affected foreign investors. Canada’s Sherritt International suspended participation in a nickel-cobalt joint venture after a May executive order threatened sanctions on mining-related businesses. Australia’s Antilles Gold, which operates a copper-gold mine in Cuba, is reportedly evaluating alternatives, though both firms have not formally withdrawn.
Official Statements & Responses
Perez-Oliva emphasized that Cuba does not prohibit U.S. investment and that the embargo, not Cuban policy, blocks such possibilities. He rejected rumors that he is being positioned as a presidential successor, stating he has no aspirations for higher office and will continue serving wherever needed.
Verbatim Quotes
- “I have no knowledge of any company directly linked to President Trump having made contact with Cuba,” — Oscar Perez-Oliva, deputy prime minister
- “It is not our policy to prohibit US companies from investing in Cuba, trading with Cuba, or conducting business of any kind with Cuba,” — Oscar Perez-Oliva, deputy prime minister
- “What prevents this possibility is the existence of the trade embargo.” — Washington
- “Neither Antilles Gold nor Sherritt has withdrawn (from Cuba),” — Oscar Perez-Oliva, deputy prime minister
- “I have no aspirations in that regard,” — Oscar Perez-Oliva, deputy prime minister