State-owned Oil Company
Appears in 2 stories
Victim and vulnerability point in the fuel-theft economy
Treasury sanctioned the Cartel de Santa Rosa de Lima (CSRL) and its jailed leader José Antonio Yépez Ortiz ("El Marro") on December 17, 2025. Washington's campaign against huachicol money then shifted toward the infrastructure that makes stolen hydrocarbons tradable: shipping, routing, and due diligence.
Updated Yesterday
Disclosed $496M oil to Cuba in 2025; future shipments reduced due to domestic refining
The United States has imposed economic pressure on Cuba for 64 years. Now, for the first time, Washington is threatening to punish any country that sells oil to the island. President Trump's January 29 executive order creates a tariff mechanism targeting third countries that supply Cuban fuel—a significant escalation that goes beyond traditional bilateral sanctions to coerce allies and trading partners into joining an energy blockade. The strategy has proven devastatingly effective: Cuba's national power grid collapsed entirely on March 17, 2026, leaving approximately 10 million people without electricity and triggering ten consecutive days of street protests—the most visible civil unrest in years. Partial restoration occurred on March 18 after 29 hours, but the blackout deepened shortages of food, medicine, and water, and included the vandalization of a Cuban Communist Party provincial office in Morón, signaling fractures in state control. On March 21, Cuba blocked a US Embassy request to import diesel for generators, escalating diplomatic tensions amid ongoing rolling blackouts.
Updated Mar 21
No stories match your search
Try a different keyword
How would you like to describe your experience with the app today?
