Mexico’s state-owned oil company said Wednesday that it will uphold its contract with Cuba despite tariff threats from the Trump administration.
The CEO of Mexico’s oil corporation, Pemex, told reporters that his company would continue the oil contract it’s had with Cuba since 2023.
This comes after an executive order from President Donald Trump establishing a tariff on countries that ship oil to Cuba. Trump said this week that Mexico would stop shipping oil to the island.
Pemex’s CEO said that while Mexico does have one remaining oil contract with Cuba, its focus is on refining oil domestically.
Mexican President Claudia Sheinbaum has categorized shipping oil to Cuba as a humanitarian issue. The country is heavily reliant on imported oil, and Mexico is a major supplier.
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Mexico has not been clear about how much oil it currently ships to Cuba. The island nation relies on allies, including Mexico, for its crude oil needs.
