Cuba in January 2026: the most important developments in economy
Cuba's economy in January 2026 was dominated by US pressure on the island's oil supply. On 11 January, President Donald Trump said Cuba would receive 'no more oil or money' from Venezuela and urged it to negotiate a deal with the United States. Cuba's president responded defiantly and said no negotiations were scheduled, while the island faced a potential energy crisis. The US pressure also extended to Mexico, which supplies oil to Cuba. Reports said Mexico's state oil company Pemex halted shipments on 27 January, and Mexico avoided giving details about them. A report on 29 January said Cuba had oil for 15 to 20 days.
On 29 January Trump threatened tariffs on any country supplying oil to Cuba, and on 30 January he signed an order allowing such tariffs. Critics described the policy as an 'oil siege' aimed at isolating Cuba and said it harms the Cuban people rather than the government. By the end of the month, Cuba had declared an emergency, and its president condemned the policy as an attempt to suffocate the island's economy. Russia called the US measures illegitimate, and Mexico was assessing how to avoid the threatened tariffs on countries that ship oil.
by WorldBrief & Maksim Micheliov | AI-generated summary
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