Enhanced energy cooperation between Russia and Cuba

Russia and Cuba plan to enhance bilateral cooperation, especially in the energy sector.

The Russian Foreign Ministry announced this after a meeting between Russian Deputy Foreign Minister Sergey Ryabkov and Cuban Energy and Mines Minister Vicente de la O Levy.

The Russian Foreign Ministry (MID) released a statement about the meeting.

It mentioned that the meeting took place in a friendly and mutually understanding atmosphere.

The discussion focused on enhancing bilateral cooperation, mainly in the energy sector, with a strategic cooperation spirit.

Moscow reiterated its support for Havana by confirming its consistent stance.

It calls for an immediate end to the US’s trade, economic, and financial blockade against Cuba.

Additionally, the Foreign Ministry firmly opposed the unilateral sanctions that violate UN statutes and international legal standards.

Last May, the traditional relations between Russia and Cuba got a new impetus. Both countries wished to bolster Russian financial and business activities on the island.

This includes tariff exemptions, 30-year land leases, and linking their banking systems.

The agreements were part of a bilateral business economic forum in the Cuban capital. This event opened several strategic sectors of the island to Russian investment.

Plans include transportation, logistics, agriculture, sugar industry, tourism, and construction investments.

Despite their strong political connections, the bilateral trade between Moscow and Havana in 2022 was only US$451 million.

The Russian representation expressed the need to enhance this figure.

This deepening of cooperation signifies continuing the longstanding partnership between the two nations.

It also highlights Russia’s ongoing efforts to strengthen its global alliances. Additionally, it underscores Cuba’s strategy to diversify its international partnerships.

Moreover, this move is seen as a countermeasure to the economic pressure exerted by the US.