President Putin Attends Signing of Russia-Cuba Oil Deals

Russian President Vladimir Putin attended the signing of two cooperation agreements between Russian Rosneft and Zarubezhnetf oil corporations and Cuban Cupet oil company.

The documents plan to develop oil exploration projects, as well as creation of a Rosneft companyś logistic base in the Mariel Economic Development Zone, located northwestern Havana, among other topics of interest.

The agreements were signed by Rosneff President Igor Sechin, and Zarubezhneft General Director Serguei Kudriachov, while the Cuban party was represented in the signing by Cupet General Director Juan Torres.

The signing ceremony held in the framework of the International Economic Forum of Saint Petersburg, was also attended by Cuban Deputy Minister of Energy and Mines Ruben Cid and Cuban ambassador to Russia Emilio Lozada.

During its stay in Russia’s second most important city, the Cuban delegation took part in a panel about the compatibility between the Russian and the Latin America and the Caribbean economies.

In his speech at the panel, Lozada highlighted that the member nations of the Bolivarian Alliance for the Peoples of Our America (ALBA) chiefly offer big opportunities to Russian investments.

The Cuban diplomat said that the interest in economic relations is not only important, but also the political rapprochement between Moscow and ALBA.

Loazada told Prensa latina that the presence of the Cuban delegation to the Economic Forum in Saint Petersburg is an expression of the rejection to the US and its allies’ attempts to isolate Russia with its sanctions.