Politics Economy Country 2026-01-08T22:11:44+00:00

Mexico-Cuba Relations Cause Tension in Business Community

Mexico's oil supply to Cuba is causing tension within the business community, which fears US retaliation and delayed payments, while the government aims for massive foreign investment.


Mexico-Cuba Relations Cause Tension in Business Community

In reality, there are two underlying problems. On one hand, the fear of retaliation from the United States, which is currently in an expansionist phase in the region. On the other hand, the terrible message to potential Pemex partners, who observe that while Cuba is supported, payments to suppliers are delayed for up to 8 years, as reported by Grupo Reforma. For the business community, it makes no sense to further complicate Pemex's management and generate the potential anger of the White House just to maintain a relationship with Cuba based on ideological arguments. In the end, it returns to a recurring scenario: Claudia Sheinbaum is not distancing herself from Cuba to support the hard core of Morena and resist the unity of the movement. The CCE (Business Coordinating Council) points out that Sheinbaum's goal is to achieve investments greater than 25% of the GDP and reach 30% by 2030. Mexico's relationship with Cuba, beginning with Pemex's oil supply to the island, is becoming a source of tension within the Business Coordinating Council. In recent days, concern has begun to be raised near José Medina Mora, and it has also escalated in the international press due to an article in the Financial Times. It is not so much about affinity with the Cuban regime, which, after all, was a partner of Mexico throughout the PRI governments and also with Felipe Calderón. This would imply a sustained annual amount of over 350,000 million dollars, between public and private, national and foreign investments. To reach that figure, two-digit growth in private investment is needed, a growth that is very complex if you are not on good terms with the United States.