Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment \u00d3scar P\u00e9rez-Oliva Fraga gave an exclusive interview to the Reuters news agency, stating that the goal of US measures \u2014 \u201cparticularly with the intensification of the economic, commercial, and financial blockade to unprecedented levels\u201d \u2014 is \u201cto transform our country\u2019s political, economic, and social order.\u201d \u201cThey have not achieved that, nor will they,\u201d he emphasized.<\/p>\n\n\n\n
P\u00e9rez-Oliva noted that this is \u201ca long-standing blockade, a cruel, genocidal blockade\u201d that has been in effect since 1962. He acknowledged that, especially following the executive orders of January 29 and May 1, \u201cforeign companies that have operated in Cuba for many years have been prompted to withdraw \u2014 either fully or partially \u2014 from business dealings with our country.\u201d<\/p>\n\n\n\n
He explained that this occurred \u201cdue to the creation of an atmosphere of direct threats against many of these companies and direct acts of coercion intended to force them to abandon their business operations in Cuba,\u201d in addition to threats of sanctions targeting specific sectors covered by those orders. \u201cThis has created uncertainty and fear among many foreign companies regarding working, investing, and developing business with Cuba,\u201d he said.<\/p>\n\n\n\n
He noted that \u201cthis phenomenon is not widespread, contrary to how it is often portrayed in statements by U.S. administration officials.\u201d He acknowledged that \u201csome companies have withdrawn from our country, primarily well-known ones in the tourism sector.\u201d<\/p>\n\n\n\n
The energy blockade<\/p>\n\n\n\n
Regarding fuel, the Deputy Prime Minister pointed out that the energy blockade established by Executive Order 14380 on January 29 \u2014 and subsequently reinforced by Order 14404 \u2014 has \u201ceffectively imposed a *de facto* naval blockade on Cuba concerning fuel.\u201d Consequently, traditional suppliers who had previously supplied the country \u201cunder lawful conditions, in compliance with international trade rules and through legitimate operations,\u201d ceased doing so.<\/p>\n\n\n\n
Compounding this is the fear among shipping lines and vessel owners; even when a supplier is willing to trade, \u201cthey cannot find a vessel willing to call at Cuban ports and deliver fuel.\u201d<\/p>\n\n\n\n
He denounced the fact that the U.S. administration has granted discretionary authorization \u2014 in a manner that is \u201crestrictive and, I would say, illicit and irregular\u201d \u2014 to certain U.S. companies to sell fuel to Cuba. \u201cHowever, this is not a matter of selling fuel as one would to any other country in the world, in compliance with standard trade regulations,\u201d he clarified. He explained that the product cannot be delivered in full tanker loads but rather through supply mechanisms that are \u201chighly costly and inefficient, directly driving up costs for the Cuban economy.\u201d<\/p>\n\n\n\n
\u201cQuite simply, a country of Cuba\u2019s size cannot function properly relying on a fuel supply based on ISO tanks \u2014 which is the current situation,\u201d he stated emphatically. He noted that \u201cvery limited quantities of fuel are received in ISO tanks and at high prices,\u201d both due to the procurement method and because \u2014 since it is a scarce product that Cuba is \u201cpractically prohibited from acquiring\u201d \u2014 companies \u201calso capitalize on these opportunities, and prices tend to rise.\u201d Added to this is the state of the international fuel market, influenced by events in the Middle East.<\/p>\n\n\n\n
Direct and targeted threats<\/p>\n\n\n\n
When asked about the departure of tourism-sector companies like Meli\u00e1 and Iberostar from the country, he replied that \u201cthey have been forced to leave due to threats and direct coercion by the US administration.\u201d He stated that Cuba is \u201cfully aware of the direct threats\u201d those companies and their top executives received from the State Department, \u201cwhich has urged them\u2014even setting deadlines\u2014to withdraw from Cuba.\u201d<\/p>\n\n\n\n
\u201cThis situation exists; it is real and well-known,\u201d he acknowledged, but he warned that in public statements and media reports, \u201cit is often blown out of proportion, because I can assure you there is no stampede of foreign investors or companies leaving Cuba.\u201d<\/p>\n\n\n\n
He added that, in light of these threats, many companies \u201chave even been singled out on a case-by-case basis, with specific sectors being targeted.\u201d \u201cThreats have been directed at sectors operating in areas of the Cuban economy that generate the external revenue allowing us to keep our economy running,\u201d he noted. He further explained that, alongside this selective targeting, the way the executive orders are designed \u201cinstills widespread fear and uncertainty and, in some instances, exerts coercion to force companies to withdraw from Cuba.\u201d<\/p>\n\n\n\n
\u201cCuba will not become a colony again\u201d<\/p>\n\n\n\n
When asked if the Cuban government was concerned about a return to an era of colonialism or economic dependence on the United States, he replied: \u201cCuba will never again become a colony of any country. Cuba achieved its independence, sovereignty and self-determination. That scenario will not return.\u201d<\/p>\n\n\n\n
The Deputy Prime Minister acknowledged that, absent the blockade, \u201ctrade relations with the United States would play a major role in our commerce, our overall economy, and investment, given the geographic proximity of the two countries.\u201d He added that \u201cthere is a natural market in the United States for many Cuban products\u201d and that \u201cmany Americans wish to travel to Cuba as tourists \u2014 to enjoy our beaches, nature, history and culture \u2014 yet they are prevented from doing so precisely because of the blockade.\u201d Many U.S. companies, he said, \u201cwould undoubtedly like to work, invest, and do business with Cuba, as we have seen in our exchanges with numerous businesspeople.\u201d<\/p>\n\n\n\n
However, all of this currently takes place \u201cwithin a restrictive environment caused by the very existence of the blockade.\u201d U.S. companies maintaining ties with Cuba \u201cmust do so under specific licenses that authorize them and establish a limited scope for their dealings with our country.\u201d \u201cThat is precisely where the irregular, illegal, and coercive nature of these actions lies,\u201d he explained.<\/p>\n\n\n\n
On one hand, he added, international companies \u2014 Cuba\u2019s traditional partners worldwide \u2014 are threatened and pressured to refrain from continuing their economic and commercial relationships with the country. On the other, the aim is \u201cto boost the operations of U.S. companies.\u201d<\/p>\n\n\n\n
Airlines and shipping companies<\/p>\n\n\n\n
The Deputy Prime Minister cited airlines as an example. Following the energy blockade and faced with \u201cthe impossibility of acquiring the aviation fuel airlines need to refuel in Cuba,\u201d some carriers were unable to sustain flights to the island due to rising costs. This had a direct impact on international tourism, \u201cone of our economy\u2019s main sources of revenue and precisely one of the targets of that energy blockade.\u201d<\/p>\n\n\n\n
\u201cYet, U.S. airlines continue to fly to Cuba without any issues,\u201d he noted. Some have even \u201cincreased or adjusted their flight frequencies based on market demand.\u201d<\/p>\n\n\n\n
A similar situation has unfolded in the maritime sector. Major international shipping lines that had worked with Cuba for decades \u201chave completely halted or limited cargo transport to the country due to U.S.-imposed restrictions \u2014 measures that are likewise illegal and run counter to international trade norms.\u201d<\/p>\n\n\n\n
As a result, \u201cthese shipping lines have left basic foodstuffs and medicines stranded in ports across our region.\u201d He cited the example of \u201craw materials for producing IV fluids and the containers needed for their manufacture in our country,\u201d which were left stranded in shipping containers in Panama. This necessitated \u201cenormous efforts to prevent a shortage of the IV fluids our population requires\u201d \u2014 particularly at a time when weather conditions trigger outbreaks of dengue, chikungunya, and other diseases that drive up demand for such supplies. There were also \u201cdelays in the arrival of raw materials and supplies for patients undergoing ongoing hemodialysis treatment,\u201d with \u201cdirect impacts on these patients resulting from threats against international shipping companies.\u201d It was noted that some shipping lines have begun discreetly transporting cargoes of food and medicine, \u201calbeit on a very limited basis.\u201d<\/p>\n\n\n\n
A relationship based on coercion<\/p>\n\n\n\n
P\u00e9rez-Oliva noted that Cuba has previously stated that, through these actions, the U.S. administration also seeks to increase the island\u2019s economic dependence on the United States \u2014 \u201cbut based on coercion, threats, and blackmail against foreign companies.\u201d That relationship, he pointed out, \u201cshould develop naturally if the blockade were lifted.\u201d<\/p>\n\n\n\n
He identified this as a factor with a \u201cmultidimensional impact on basic services for our population,\u201d citing the energy sector as an example. Cuba is implementing an energy transition program toward renewable sources, installing generation capacity for the National Electric System, and companies have been acquiring the means \u201cto maintain their viability amidst the energy crisis.\u201d However, he denounced threats against shipping companies, stating they \u201chave been aimed at preventing or delaying the arrival of components needed to install photovoltaic solar systems in our country.\u201d<\/p>\n\n\n\n
The mining sector<\/p>\n\n\n\n
Regarding the situation of mining companies, the Deputy Prime Miniser said that this is \u201cone of the sectors explicitly mentioned in Executive Order 14404 of May 1st,\u201d alongside the energy, banking, and financial sectors. The order also includes a broad \u201cOther\u201d category, meaning \u201cany sector deemed relevant by U.S. authorities can be included under that illegal order.\u201d<\/p>\n\n\n\n
He clarified that \u201cno mining company has withdrawn from Cuba.\u201d \u201cSherritt remains in our country and continues its joint venture here, as does the other company you mentioned,\u201d he said, referring to Antilles Gold. What has happened, he explained, is that \u201cone of the joint ventures involving Sherritt has been directly sanctioned.\u201d Regarding Antilles Gold, he stated that it \u201cfaces the same situation,\u201d adding that \u201cCuban companies involved in mining sector business activities have also been sanctioned.\u201d This, he said, \u201chas generated fear, uncertainty, and concern among companies that had been conducting business with Cuba in a natural and legal manner.\u201d Faced with this scenario, \u201cthose companies are evaluating alternatives to see how they can continue their business operations.\u201d<\/p>\n\n\n\n
Regarding the interest shown by U.S. companies, he stated: \u201cFirst of all, we do not block any U.S. company from doing business with Cuba.\u201d He acknowledged being aware that conversations are taking place, but noted, \u201cwe cannot offer any further specifics on the matter because we lack the details.\u201d<\/p>\n\n\n\n
He insisted that Cuba has \u201cno policy prohibiting U.S. companies from investing in Cuba, trading with our country, or conducting business of any kind.\u201d \u201cWhat prevents that possibility is precisely the existence of the blockade,\u201d he maintained, since any participation by a U.S. company \u201cwould require express authorization from the U.S. administration.\u201d \u201cThat is where the main limitations lie regarding the United States engaging normally with Cuba in trade, investment, and cooperation in general,\u201d he affirmed.<\/p>\n\n\n\n
Cuba remains attractive to trade partners<\/p>\n\n\n\n
When asked how Cuba prevents the United States from benefiting from a market devoid of competitors, he replied that \u201cwe have continued to receive expressions of interest from businesses and companies from all regions of the world,\u201d even amidst this climate of uncertainty. He attributed this interest to the economic and social transformations the country is implementing \u201cin an accelerated and responsible manner.\u201d<\/p>\n\n\n\n
He explained that some of these firms were already present in the country and wish to expand their involvement, while others are new. \u201cA significant number of them are also linked to Cubans living abroad who have seen these transformations as an opportunity to contribute to our economic and social development \u2014 and, of course, to derive an economic benefit, as any business allows,\u201d he said.<\/p>\n\n\n\n
The Deputy Prime Minister reiterated that the U.S. government\u2019s actions \u201care aimed at creating a forced economic dependency for Cuba,\u201d yet \u201cwe continue to work with foreign companies.\u201d He did not mention names, he explained, \u201cbecause there is a direct economic war against Cuba,\u201d and anyone \u201ccould be subject to sanctions next Thursday or this Thursday.\u201d He stated that many companies and businesspeople \u201capproach our country every day to present interests and business proposals,\u201d and that work is proceeding \u201cwith a very positive dynamic regarding the approval of new projects.\u201d<\/p>\n\n\n\n
When asked how Cuba prevents the United States from benefiting from a market without competitors, the official replied that \u201cwe have not stopped receiving expressions of interest from businesses and companies from all regions of the world,\u201d even amidst this climate of uncertainty. He attributed this interest to the economic and social transformations the country is implementing \u201cin an accelerated and responsible manner.\u201d<\/p>\n\n\n\n
He explained that some of these firms were already present in the country and wish to expand their involvement, while others are new. \u201cA significant number of them are also linked to Cubans living abroad who have seen these transformations as an opportunity to contribute to our economic and social development\u2014and, of course, to make a profit, as any business does,\u201d he said.<\/p>\n\n\n\n
He reiterated that the U.S. government\u2019s actions are \u201caimed at creating a forced economic dependency for Cuba,\u201d yet \u201cwe continue to work with foreign companies.\u201d He explained that he does not mention names \u201cbecause there is a direct economic war against Cuba,\u201d and anyone \u201ccould be subject to sanctions next Thursday or even this Thursday.\u201d He stated that many companies and businesspeople \u201capproach our country every day to present business interests and proposals,\u201d and that work is proceeding \u201cwith a very positive dynamic regarding the approval of new projects.\u201d<\/p>\n\n\n\n
When asked about alleged overtures from companies linked to President Donald Trump \u2014 including a group called Dominari \u2014 he replied: \u201cI have no record of any approach to Cuba by companies linked to President Trump during this period.\u201d He reiterated that the country does not block the participation of any company, \u201cprovided they contribute, as intended, to our country\u2019s economic and social development and operate in compliance with and respect for our laws,\u201d and noted that Cuba also respects \u201cinternational trade norms and mechanisms.\u201d A New Real Estate Policy
Regarding opportunities for investors interested in construction \u2014 for instance, in the Miramar coastal zone \u2014 the Deputy Prime Minister explained that the country\u2019s real estate policy has been updated in two fundamental ways. On one hand, the duration for granting real rights over state assets has been extended; this includes surface rights over land, which \u201ccan be granted for 99 years and, in some cases, even under the modality known as perpetual surface rights.\u201d On the other hand, a recent amendment to the Civil Code allows for extending the duration of usufruct rights over existing facilities.<\/p>\n\n\n\n
This combination, coupled with the possibility of selling real estate units when a company operates in this sector, \u201chas created an interesting environment for conducting real estate business in our country.\u201d Policy regarding business development in conservation zones and heritage areas \u2014 an area of \u200b\u200binterest for many entrepreneurs \u2014 was also updated. He specifically mentioned Old Havana, noting that it \u201cgenerates great interest,\u201d and pointed out that the Malec\u00f3n area \u201cis also highly attractive to entrepreneurs working in the real estate sector.\u201d<\/p>\n\n\n\n
A company or entrepreneur with the resources to develop a project based on these policies \u2014 which \u201care fully aligned with real estate development policies generally found worldwide\u201d \u2014 can undertake this type of business. Building heights and locations, he clarified, \u201cwill depend on the urban planning regulations established for each area of \u200b\u200bthe city.\u201d And the Deputy Prime Minister concluded that, with the policy updates and the implementation of economic and social transformations, \u201cthere is currently a very interesting landscape for real estate business development in our country.\u201d<\/p>\n\n\n\n
IMAGE CREDIT: Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment \u00d3scar P\u00e9rez-Oliva Fraga during an interview with Reuters in Havana on Monday, September 28, 2026. Photo: Reuters.<\/p>\n\n\n\n
(With information from Reuters)<\/p>\n","protected":false},"excerpt":{"rendered":"
Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment Óscar Pérez-Oliva Fraga gave an exclusive interview to the Reuters news agency, stating that the goal of US measures… <\/p>\n","protected":false},"author":2,"featured_media":13418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_ppma_block_editor_authors":"{\"authors\":[42],\"author_categories\":{\"42\":\"1\"},\"fallback_author_user\":\"1\",\"ppma_author_box_select\":\"\",\"selected_authors\":[{\"id\":42,\"display_name\":\"Radio Habana Cuba\",\"is_guest\":1,\"category_id\":\"1\"}]}"},"categories":[7],"tags":[],"ppma_author":[42],"class_list":["post-13417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics"],"authors":[{"term_id":42,"user_id":0,"is_guest":1,"slug":"radio-habana-cuba","display_name":"Radio Habana Cuba","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","author_category":"","user_url":"","last_name":"","first_name":"","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/posts\/13417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/comments?post=13417"}],"version-history":[{"count":1,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/posts\/13417\/revisions"}],"predecessor-version":[{"id":13419,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/posts\/13417\/revisions\/13419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/media\/13418"}],"wp:attachment":[{"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/media?parent=13417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/categories?post=13417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/tags?post=13417"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.radiorebelde.cu\/english\/wp-json\/wp\/v2\/ppma_author?post=13417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}