Cuba Faces Oil Shortage, Calls for Big Economic Overhaul

The Cuban leader has urged the country to act fast on sweeping changes to its economy and society because oil supplies are running low. During a meeting of top officials, he said the government must immediately work on new plans to reshape how business and local governments operate. The call comes as Cuba is hit by a recent oil embargo and has stopped receiving Venezuelan fuel after the United States attacked that nation in January. He linked the needed reforms to giving more power to cities, cutting down on state bureaucracy, and opening doors for foreign investment. Municipal leaders were asked to take charge of attracting money from outside the country and partnering with local businesses. The president also highlighted the importance of involving Cuban expatriates in new projects.The Prime Minister said that producing enough food and fixing the power grid are top priorities because power cuts and fuel shortages are still common. The energy minister noted that progress in local transition plans is slow, even though the government has handed out solar panels to health workers, teachers and kids. He stressed that cities must develop self‑sufficient strategies using their own resources. Last month, Cuba introduced strict fuel‑saving rules, such as cutting some public transport services and moving school lessons online. Although the U. S. Treasury slightly relaxed limits on buying Venezuelan oil, the island’s energy and economic troubles are expected to continue. Added pressure comes from new U. S. sanctions that have taken away about $8 billion in revenue for the next year, a hit almost 50 % higher than before.