Cuba once again faces the abyss as the Russian crude oil that evaded the blockade runs out
Cuba is once again facing an acute energy crisis after the crude oil sent by Russia ran out, foreshadowing the return of massive blackouts that impact the economy and daily life on the island.
TL;DR
- Cuba's brief period of reduced blackouts, thanks to a Russian oil shipment, is ending as the crude runs out.
- The halt in crude oil imports prevents the operation of large generators, which account for 40% of electricity production.
- Seven thermoelectric power plants, also responsible for 40% of production, suffer frequent breakdowns due to lack of investment, not the US blockade.
- Minister of Energy and Mines stated Cuba needs monthly shipments of similar size to the Russian tanker to meet energy needs.
- A second Russian tanker, the Universal, may be delayed, potentially not arriving until late May.
- Cuba needs around 100,000 barrels of oil daily, with the majority needing to be imported.
- Venezuela was previously Cuba's main supplier but has decreased shipments due to production collapse and sanctions.
- The Economist Intelligence Unit and ECLAC predict significant GDP contractions for Cuba this year.
- The island faces structural crisis, pandemic effects, US sanctions, scarcity of goods, deteriorated public services, inflation, currency collapse, and emigration.