U.S. oil blockade of Venezuela is pushing Cuba toward economic collapse
The Wall Street Journal reports:
Cubans are going hungry, suffering from spreading disease and sleeping outdoors with no electricity to power fans through the sweltering nights. A quarter of the population has fled during the island’s most prolonged economic crisis.
And it’s about to get worse.
The U.S. is ratcheting up pressure on Havana’s key benefactor, Venezuelan strongman Nicolás Maduro’s regime, which has kept the Communist-ruled nation afloat with cheap oil. Now Venezuelan oil exports are at risk thanks to a partial blockade targeting sanctioned tankers—the kind that carry about 70% of the country’s crude.
One tanker that the U.S. has already seized was en route with almost two million barrels of Venezuelan oil.
The blockade adds to a U.S. pressure campaign on Maduro that also includes a major military buildup in the Caribbean, airstrikes on boats allegedly connected to Venezuelan drug trafficking and threats of bombing the country itself.
Were Venezuela’s oil shipments to stop, or sharply decline, the Cubans know it would be devastating.
“It would be the collapse of the Cuban economy, no question about it,” said Jorge Piñón, a Cuban exile who tracks the island’s energy ties to Venezuela at the University of Texas at Austin. [Continue reading…]