News and Facts about Cuba

Russia May Supply More Oil to Cuba

Russia May Supply More Oil to Cuba
10:24 13.01.2017(updated 11:24 13.01.2017)

According to media reports, the Russian government is considering the
possibility of increasing supplies of Russian oil and oil products to Cuba.

MOSCOW (Sputnik) – The Russian government is considering a possibility
of increasing supplies of Russian oil and oil products to Cuba, media
reported Friday, referring to a letter of the Russian deputy
minister to the cabinet.

“In our opinion, the successful completion of the negotiations
on supplies of Russian hydrocarbons to Cuba will not only promote an
increase in trade turnover, but also have a positive socio-political and
humanitarian effect on the Russian-Cuban relations,” Alexey Gruzdev’s
letter was quoted by the Vedomosti newspaper.

Gruzdev stressed in the letter, written on Wednesday, that Russian
supplies to Cuba had not recently been regular.

According to the Russian Ministry of Energy, Rosneft and Lukoil oil
giants are currently discussing possible deliveries to Cuba, though the
issue of prices has not been discussed yet.

The letter also gives no information on the oil volume that Cuba is
ready to buy and on the price, acceptable for Havana.

According to the Russia’s Federal Service, Russia supplied
17,100 tons of oil products to Cuba in 2010-2015, with total cost of
$11.3 million. In January – November 2016, some 3,100 tons of oil
products costing $740,000 were exported to Cuba.

Source: Russia May Supply More Oil to Cuba –
sputniknews.com/world/201701131049549066-russia-cuba-oil/

2 Responses to Russia May Supply More Oil to Cuba

  • It is good to see that Russia wants to maintain and increase its trade with Cuba, in this case for hydrocarbons. A regular supply of such products, at a fair price, will assist the Cuban economy to move forward, and there should be no problem finding Cuban products than can be exported to Russia, both agricultural and mineral.

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