Cuba faces a humanitarian crisis as its energy grid, reliant on failing Venezuelan oil, has effectively collapsed. Despite announcing 176 free-market reforms, the country remains trapped by a 60-year US embargo and a massive brain drain, leaving it with no clear path to recovery as essential services like healthcare and water distribution fail.

Topics: Cuba, Economics, Geopolitics, Energy Crisis, Sanctions

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What are the key takeaways from “Cuba Was Barely Holding On… And Then The Oil Ran Out” on Economics Explained?

Insights from the Economics Explained episode “Cuba Was Barely Holding On… And Then The Oil Ran Out”, published July 14, 2026.

What is this episode about?

Cuba faces a humanitarian crisis as its energy grid, reliant on failing Venezuelan oil, has effectively collapsed. Despite announcing 176 free-market reforms, the country remains trapped by a 60-year US embargo and a massive brain drain, leaving it with no clear path to recovery as essential services like healthcare and water distribution fail.

Topics: Cuba, Economics, Geopolitics, Energy Crisis, Sanctions