Russia Pledges $1 Billion Investment in Cuba by 2030

Russia has announced a substantial investment plan exceeding $1 billion in Cuba by 2030, aiming to strengthen economic ties and support key sectors such as energy, agriculture, public lighting, and tourism. This commitment was detailed by Russian Deputy Prime Minister Dmitry Chernyshenko following talks between President Vladimir Putin and Cuban leader Miguel Díaz-Canel, emphasizing Russia's intent to subsidize interest rates for businesses investing in Cuba. The initiative, known as Plan 2030, reflects an ongoing strategic partnership amid Cuba's severe economic challenges, including U.S. sanctions and declining tourism. While Russia has historically delayed or canceled projects due to Cuba's payment issues, Chernyshenko described Cuba as a reliable partner capable of honoring its commitments. The plan also includes efforts to boost tourism, with Russia aiming to become the primary source of visitors to the island. Despite the ambitious scope, the timeline for full investment deployment remains uncertain, with progress expected to be gradual.