United States offered Cuba oil and capital for energy sector reforms

The Trump administration reportedly engaged in clandestine negotiations with Cuban officials to address the island's energy crisis in exchange for significant economic and political concessions. According to reports, Washington offered expansive U.S. oil supplies and capital investments to overhaul Cuba's energy system. In return, the proposal required the privatization of the state-run oil monopoly, CUPET, and the removal of President Miguel Díaz-Canel from power.

Negotiations involved contacts with Raúl Guillermo Rodríguez Castro, a member of the Cuban inner circle. While various options were considered, including joint enterprises between state and private capital, the proposal ultimately failed.

Separately, U.S. Secretary of State Marco Rubio has indicated that Washington remains open to a “serious process” of dialogue aimed at achieving gradual economic reform in Cuba. Rubio characterized the current Cuban economic system as “completely backwards” and stated that the U.S. is prepared to be “realistic and patient” regarding changes that could lead to prosperity for the Cuban people, though he noted that current leadership has shown resistance to such shifts.