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Venezuela bondholders inch toward showdown

Friday, March 31, 2017

Hit by Venezuela shortage, Cuba to restrict premium gasoline sales

Cuba will stop selling premium grade gasoline except to tourists starting Saturday due to a fuel crunch affecting Venezuela, its oil-rich ally and key trading partner. Cuba's leadership has yet to announce the measure publicly, but a government source confirmed the contents of an official memo that has circulated on social media outlets this week. The memo has already been "sent by official means to those implicated," said the source, who was unauthorized to speak to about the matter and requested anonymity. Cuba has become increasingly reliant on Venezuela for refined oil products, even as the latter wrestles with shortages of those products at home. Last week, Venezuela faced its first nationwide shortage of motor fuel in five years. More…

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