Cuba: A haven for Russian business. As of 2023, 100 companies have been established there

Luc Williams

According to estimates from the Cuban authorities cited by the agency, companies created by Russians most often operate in the energy sector, heavy industry and banking. Other industries in which Russians invested in 2023 include tourism, agriculture and IT.

The island is experiencing one of the worst economic crises

Prensa Latina reported that Cuban Minister of Foreign Trade and Foreign Investments, Ricardo Cabrisas, who was present in Moscow on Friday, received assurances from Russian Deputy Prime Minister Dmitry Chernyshenko regarding further business plans of Russians on the island. The investments they made in Cuba in 2023 were described by the Kremlin representative as “significant”.

Chernyshenko announced in an interview with Prensa Latina that Moscow would soon launch another credit line for Cuba “in order to stabilize supplies of crude oil, petrochemical products, grain and fertilizers.”

The increasing economic activity of Russians in Cuba coincides with one of the worst economic crises since the end of the revolution on the island in 1959.

Anti-government protests took place in several places in Cuba on Sunday. The largest ones took place in the cities of Santiago de Cuba and Bayamo, where residents demanded the resumption of electricity supplies and improved food supply in stores. According to independent media, arrests were made during both protests.

Marcin Zatyka


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