Things are not looking good here people... Can you believe that Venezuela, one of the major oil producers in the world, is actually buying Russian oil to the tune of $440 million to send to Cuba...AND losing money on it.
Why? As the economic crisis in Venezuela worsens, Maduro’s regime is losing allies fast, and they’re trying to do whatever they can to keep the ones the have left (i.e. Cuba) whose alliance with Venezuela has centered around receiving subsidized oil from Venezuela in exchange for technicians and medical professionals... That’s right, Cuba doesn’t even pay for the oil.
So why doesn’t Venezuela just continue to send Cuba oil from its own reserves? Well, hyperinflation is running so rampant in Venezuela that workers are abandoning their jobs and fleeing the country because they can’t afford basic goods like food and toilet paper, leaving the refineries all but empty.
With the Venezuelan economy on the brink of collapse and Cuba’s economy being so dependent on oil, this love story may come to a bitter end before you know it...de pinga!