Topic: Russian Crude

Cuba is experiencing massive electrical blackouts and protests in Havana after exhausting its supply of Russian crude oil. CIA Director John Ratcliffe made a rare visit to the island to deliver a message that the U.S. is willing to engage on economic and security issues only if fundamental reforms are made. While the U.S. maintains a de facto oil blockade, it has offered $100 million in aid. Cuban officials remain resistant to changing their one-party socialist system despite the dire humanitarian situation.

The European Union reached an agreement to cap the price of Russian oil products at $100 per barrel for those trading above crude prices and $45 for those at a discount. Critics argue these caps are high enough that Russia will continue to profit while the West maintains its energy supply.