US Sanctions Block Cuba from Receiving Russian Crude Oil
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 20 2026
0mins
Source: CNBC
- Escalation of Sanctions: The U.S. Treasury Department's new license adds Cuba to a list of countries barred from transactions involving Russian crude oil, indicating a tough stance on Cuba's energy crisis and likely exacerbating its economic difficulties.
- Tanker Movements: Two tankers carrying Russian oil and gas are en route to Cuba, with the Sea Horse expected to deliver around 190,000 barrels of Russian gasoil, reflecting Cuba's defiance against U.S. sanctions.
- Deepening Economic Crisis: Cuba is facing its most significant economic crisis since the collapse of the Soviet Union, with blackouts and energy shortages posing severe challenges, increasing its reliance on external energy sources.
- Russian Support Commitment: Russia has strongly criticized the U.S. fuel blockade and pledged to provide Cuba with necessary support, including financial aid, demonstrating the enduring alliance between the two nations.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 160.780
Low
114.00
Averages
132.17
High
158.00
Current: 160.780
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Supply Constraints: Iran's attacks on energy infrastructure have effectively closed the Strait of Hormuz, choking off 20% of global oil and LNG supplies, which is expected to further elevate oil prices and enhance Exxon's profitability.
- Return to Venezuela: ExxonMobil expressed interest in returning to Venezuela under favorable investment terms, leveraging its improved technical expertise in heavy oil, which could significantly boost the company's long-term growth profile.
- LNG Project Milestone: Exxon and QatarEnergy completed the first LNG train at their Golden Pass project in Texas, with an initial capacity of 6 million tonnes per annum, set to ramp up to 18 million tonnes, coinciding with disruptions in Qatar's LNG operations due to the Iran conflict, making the project's timing critical.
See More
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See More
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- Strategic Adjustments: ExxonMobil has focused on enhancing profitability in low oil price environments over the past few years through structural cost savings and investments in high-margin projects, significantly boosting its profitability in the current high oil price context.
- Return to Venezuela Plans: ExxonMobil expressed interest in returning to Venezuela under favorable investment terms, leveraging its technical expertise in heavy oil to potentially achieve greater success in the country, thereby enhancing the company's long-term growth profile.
- LNG Project Progress: ExxonMobil and QatarEnergy completed the first LNG train at their Golden Pass joint venture in Texas, with an initial capacity of 6 million tonnes per annum, and a full operational capacity of 18 million tonnes per annum, coming online at a critical time as the Iran war impacts Qatar's LNG operations.
See More
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- Rising Flight Prices: Since the onset of the Iran conflict, jet charter prices have surged by an average of 5% to 15%, with some flights experiencing increases of up to 20%, leading affluent travelers to face unexpected fees, although they are generally less sensitive to price fluctuations.
- Steady Market Demand: Despite soaring fuel prices, the private flying market remains robust, with WingX reporting a 5% year-over-year increase in flights for the week ending March 22, and Flexjet noting a 15% rise in utilization among fractional owners, indicating sustained demand from high-net-worth clients.
- Airlines' Response Strategies: Some operators are mitigating costs by refueling in countries with cheaper fuel, even if it results in longer flight times; however, clients continue to prefer private flights to avoid long airport lines, especially during disruptions caused by government shutdowns.
See More
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- Brent Crude Spot Price: The spot price for Brent crude soared to $141.36 on Thursday, the highest level since the 2008 financial crisis, reflecting market sensitivity to geopolitical risks and concerns over future supply.
- Asia-Pacific Market Reaction: While the Australian and Hong Kong markets were closed for the Easter holiday, Japan's Nikkei 225 futures rose to 53,285 in Chicago, demonstrating investor optimism about market prospects.
- U.S. Market Volatility: U.S. major indexes experienced volatility amid rising oil prices, with the Dow Jones Industrial Average declining by 61.07 points, yet the S&P 500 managed a slight increase of 0.11%, showcasing the market's adaptability to oil price fluctuations.
See More
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- First Delivery: This delivery will mark the first cargo from Golden Pass facilities to Italy's Adriatic LNG terminal, further advancing Italy's energy diversification strategy and reducing reliance on a single source of supply.
- Capacity Recovery: QatarEnergy's CEO stated that Iranian attacks have knocked out 17% of Qatar's LNG export capacity, thus the commissioning of Golden Pass LNG will help restore market supply and alleviate price pressures.
- Long-term Capacity: Once fully operational, the Golden Pass LNG facility will have an annual production capacity of 18 million metric tons, expected to provide a stable supply of liquefied natural gas to Italy and other European markets, enhancing regional energy security.
See More
