Venezuela boosts oil subsidies to Cuba

Venezuela has increased oil subsidies to Cuba from approximately $3 billion in 2006 to possibly more than $4 billion this year, according to a University of Miami report to be released today.

Venezuela is shipping 94,103 barrels of oil a day to Cuba, the Miami Herald cited experts at the University of Miami’s Institute for Cuban and Cuban American Studies calculated, based on official Havana figures issued last week.


Last year Cuba received about $3.3 billion in oil products from Venezuela, up from $2.7 billion in 2005.

The Miami Herald said Caracas has declined to explain the payment system, but experts think Havana gets the energy assistance free of charge.

UPI