Cuba announces a shift toward a market economy, ending subsidized oil supplies while facing continued blockades from US sanctions.
5 reports, 4 independent
Updated Sep 23
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What happened
Cuba announces a shift toward a market economy, ending subsidized oil supplies while facing continued blockades from US sanctions.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Under pressure from US oil blockades and sanctions, Cuba is allowing private companies to trade directly with foreign businesses, a shift rooted in policies from Obama's administration.Sub-event
Cuba announces a shift toward a market economy, ending subsidized oil supplies while facing continued blockades from US sanctions.1 source
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The entities involved
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Cuba
sovereign state situated on an island in the Caribbean Sea
Related events
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- The US oil blockade has led to an energy crisis in Cuba.
- Venezuela provided oil and resources to Cuba, while the city faced severe power outages during the crisis.
- Cuba is experiencing power cuts, Argentina reported a national surplus, and Colombia's market slipped amid political heat.