US targets Cuba oil giant as China and Havana deepen party ties
The Trump administration on Thursday imposed sanctions on Cuba’s state-owned oil and gas company, escalating pressure on Havana’s communist government and targeting a sector central to the island’s worsening energy crisis.
The move came hours after senior Chinese and Cuban officials held a video conference to discuss bilateral cooperation and party-to-party ties.
According to statements released by Chinese and Cuban officials, the talks involved Liu Haixing, head of the International Department of the Chinese Communist Party’s Central Committee, and Emilio Lozada Garcia, head of the International Relations Department of Cuba’s Communist Party.
The two sides exchanged views on implementing agreements reached by the countries’ leaders, expanding inter-party exchanges and advancing what they described as a China-Cuba community with a shared future.
US Secretary of State Marco Rubio announced sanctions on Union Cuba-Petroleo, known as CUPET, under Executive Order 14404, a measure signed by US President Donald Trump in May authorising broad restrictions on Cuban government entities and officials.
The designation blocks CUPET’s property and interests under US jurisdiction and raises the risk of sanctions for foreign companies and financial institutions that engage in certain transactions involving the company.