Cuba and Venezuela: Energy Alliance in Times of Crisis

Olivia Martin y Herrera
May 20, 2024
3 minutes

Cuban President Miguel Díaz-Canel reaffirmed Cuba's "invariable support" for the Bolivarian revolution in Venezuela during a meeting with Venezuelan Foreign Minister Yván Gil in Havana. Díaz-Canel expressed his commitment through the social network X, emphasising the importance of civic-military cooperation between the two countries and offering all necessary assistance to Venezuela. He also praised Venezuela for the success of the recent ALBA-TCP Summit, highlighting the strength of the alliance between both governments.

Foreign Minister Yván Gil deeply appreciated Cuba's continuous support and conveyed a message of solidarity from Venezuelan President Nicolás Maduro. Gil also highlighted the shared challenges both nations face, both in the short and long term. During his visit, Gil met with his Cuban counterpart, Bruno Rodríguez, who reaffirmed the unconditional support of the Cuban people and state for the Venezuelan government, thereby strengthening the strategic relationship between the two countries.

Since the advent of the Bolivarian revolution in 1999, the alliance between Cuba and Venezuela has been crucial for the Cuban economy. Venezuela became Cuba's main oil supplier, delivering oil at preferential prices in exchange for medical and educational services provided by the island. Despite Venezuela's severe economic crisis, which has reduced oil supplies from 90,000 barrels per day in previous decades to 56,000 in 2023, this support remains vital for Cuba. The reduction in oil supplies has significantly impacted the Cuban economy, underscoring the importance of this energy alliance in challenging times.

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