Trade between Russia and Cuba sees dramatic ninefold increase in first months 2023

During the first four months of 2023, trade relations between Russia and Cuba have seen a dramatic ninefold increase, according to Russian Prime Minister Mikhail Mishustin.

Despite an unfavorable external environment, the PM was confident that this upward trend would persist.

In a meeting with his Cuban counterpart, Manuel Marrero Cruz, in the Black Sea city of Sochi, Mishustin declared, “Last year, bilateral trade amounted to nearly 60 billion rubles or over 20 billion pesos. This year, the trend continues as trade grew nine times compared to the same period in 2022.”

Mishustin emphasized Russia’s commitment to increasing trade with Cuba, citing their strong, historic relationship.

“Cuba is a key partner for Russia in Latin America, and our cooperation is built on longstanding traditions of friendship, solidarity, mutual respect, and trust,” he stated. Mishustin further underscored their mutual challenges against an increasing barrage of sanctions from adversary nations.

To further increase trade and investment, Mishustin encouraged Cuba to bolster its cooperation.

The Russian Prime Minister also proposed increased collaboration in the tourism sector, highlighting that Aeroflot, the Russian airline, has commenced regular flights to Cuba.

In response, Marrero Cruz condemned the unilateral U.S. sanctions imposed on Russia, emphasizing the need for collaboration to reinforce bilateral relations amidst American attempts to assert global dominance.

During his visit to Moscow, which started on June 5, the Cuban Prime Minister also denounced the U.S. “Russophobia” aiming to isolate Russia internationally.

Marrero Cruz further criticized the European Union’s High Representative for Foreign Policy, Josep Borrell, for his recent visit to the U.S. embassy in Havana.

The Cuban Prime Minister also noted a concerted campaign within the U.S. to demonize Cuba, particularly following the Russia-Cuba business forum in May.

During Marrero Cruz’s visit to Russia, which extends from June 6 to 17, several significant agreements are expected to be inked.

He is also scheduled to attend the Eurasian Intergovernmental Council meeting in Sochi and the St. Petersburg International Economic Forum.

Mishustin also stressed the importance of implementing joint projects with Cuba, specifically mentioning plans to enhance oil recovery in Cuban oilfields and modernize the Havana metallurgical plant.

He further expressed Russia’s enthusiasm for expanding the scope of its companies operating in Cuba following the Cuban government’s decision to create more favorable conditions for Russian businesses.

Mishustin stated, “Our businessmen are very pleased with this decision and are currently making plans, including investment plans, to operate in Cuba.”

News Cuba, English news Cuba, trade Cuba Russia, russophobia, Russian Prime Minister Mikhail Mishustin

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This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief