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Mexican President Claudia Sheinbaum announced Tuesday that her government has temporarily suspended oil shipments to Cuba, while emphasizing this was a “sovereign decision” not made under U.S. pressure.
During her morning news briefing, Sheinbaum addressed questions about whether state oil company Pemex had halted oil supplies to Cuba amid mounting pressure from U.S. President Donald Trump to distance Mexico from the Cuban government.
“Pemex makes decisions in the contractual relationship it has with Cuba,” Sheinbaum stated. “Suspending is a sovereign decision and is taken when necessary.”
The ambiguous remarks come at a time when Trump is working to further isolate Cuba, a longtime U.S. adversary subject to strict economic sanctions. Trump has recently claimed the Cuban government is on the verge of collapse and would no longer receive oil shipments from Venezuela following a U.S. military operation that removed former Venezuelan President Nicolás Maduro from power.
Cuba has faced a deepening energy and economic crisis, relying heavily on assistance and oil shipments from allies including Mexico, Russia, and previously Venezuela. For the island nation, Mexican oil has served as a crucial economic lifeline.
According to Pemex’s most recent report, the company was shipping nearly 20,000 barrels of oil per day to Cuba from January through September 30, 2025. However, following U.S. Secretary of State Marco Rubio’s visit to Mexico City that month, shipments reportedly dropped to approximately 7,000 barrels, according to Jorge Piñon, an expert at the University of Texas Energy Institute who tracks oil shipments using satellite technology.
Despite promising for weeks to provide clear data on exports to Cuba, Sheinbaum has yet to deliver specific figures. Neither the Cuban government nor Pemex immediately responded to requests for comment on the situation.
Piñon observed that Sheinbaum is “walking a tightrope” between her political rhetoric supporting Cuba and upcoming trade agreement negotiations with the United States. Analysts expect increased pressure from Washington to make the oil shipment suspension more permanent, particularly as Trump demands stronger results from Mexico in combating drug cartels.
Mexico has been attempting to balance its long-standing support for Cuba’s government with Trump’s regional vision and pressure. Last week, Mexico transferred dozens of suspected cartel members to the United States to face justice—individuals sought by the Trump administration. Sheinbaum used similar language then, insisting those transfers were made on a “sovereign and autonomous basis.”
The oil suspension has already impacted daily life in Cuba. Dozens of drivers have been waiting hours in long lines—a common sight on the island—to fill their vehicles with gasoline after hearing the news. While some expressed resilience, others voiced significant concern about future fuel supplies.
Rolando Graña, a 40-year-old airport employee, spent two hours of his day off waiting in a gas line. “That’s going to affect us a lot more now,” Graña said, highlighting the immediate impact of the oil supply disruption on ordinary Cubans.
Sheinbaum indicated that Mexico would continue to show solidarity with Havana but did not clarify what form this support would take moving forward. Mexico itself faces pressure from Washington, with Trump threatening military action against Mexican drug cartels if the country doesn’t demonstrate more aggressive action against organized crime.
The situation underscores the complex geopolitical dynamics in the region, with Mexico navigating relationships between its northern neighbor and traditional allies like Cuba while attempting to maintain sovereignty in its foreign policy decisions.
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16 Comments
Exploration results look promising, but permitting will be the key risk.
I like the balance sheet here—less leverage than peers.
Good point. Watching costs and grades closely.
Silver leverage is strong here; beta cuts both ways though.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Silver leverage is strong here; beta cuts both ways though.
Exploration results look promising, but permitting will be the key risk.
Good point. Watching costs and grades closely.
Interesting update on Mexican president says her country has paused oil shipments to Cuba. Curious how the grades will trend next quarter.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Good point. Watching costs and grades closely.
I like the balance sheet here—less leverage than peers.
The cost guidance is better than expected. If they deliver, the stock could rerate.