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Trump threatens tariffs on Cuba's oil sales: Update

  • Market: Crude oil
  • 30/01/26

Updates with comments from Mexican president.

An executive order by President Donald Trump threatens potential tariffs on imports from countries supplying crude and refined products to Cuba, indicating Washington's next target in the western hemisphere.

Trump's order does not spell out the level of tariffs, but declares an additional emergency related to "an unusual and extraordinary threat" from Cuba. Trump directed his administration to determine which countries supply oil to Cuba and whether to apply additional tariffs on imports from those countries.

Cuba already lost Venezuela as its key supplier of crude and products following the US capture of Nicolas Maduro. Mexico has supplied crude to Cuba for decades, often positioning the shipments as humanitarian support and rejecting external pressure on its foreign policy. But state-owned Pemex recently withdrew a crude cargo scheduled for delivery to Cuba.

"The imposition of tariffs on countries that supply oil to Cuba could trigger a far-reaching humanitarian crisis — a situation that should be avoided through respect for international law and dialogue between the parties," Mexico's president Claudia Sheinbaum said on Friday.

From January-September, Pemex subsidiary Gasolinas Bienestar exported 17,200 b/d of crude and 2,000 b/d of refined products to Cuba, according to Pemex's third-quarter filing with the US Securities and Exchange Commission.

By Haik Gugarats and Cas Biekman


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