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Monday, February 2, 2026

Latin America Rising > Cuban crisis looming; Costa Rica elects new President; Argentina privatizes LNG imports

 

Trump issues ultimatum to Cuba as humanitarian crisis looms


Things are looking “very bad” for the Caribbean nation now that it has lost access to Venezuelan oil, the US president has said

US President Donald Trump speaking to members of the media aboard Air Force One. © Getty Images / Al Drago












The Cuban authorities would have to reach an agreement with Washington if they want to avoid a humanitarian crisis, US President Donald Trump has warned.

Earlier this week, Trump signed an executive order to impose tariffs on goods from any countries that sell oil to Cuba, further strengthening an embargo against the Caribbean nation which dates back to the 1960s.

The move comes after last month’s kidnapping by Washington of Venezuelan President Nicolas Maduro; his country had served as Havana’s primary source of oil.

Mexico had increased oil deliveries to Cuba in recent weeks; Mexican President Claudia Sheinbaum warned on Friday that the US president’s order could “trigger a large-scale humanitarian crisis, directly affecting hospitals, food supplies, and other basic services for the Cuban people.”

When asked about Sheinbaum’s comment by journalists aboard Air Force One on Saturday, Trump said: “Well, it doesn’t have to be a humanitarian crisis. I think they probably would come to us and want to make a deal. So Cuba would be free again.”

     Read more
 US choking Cuba’s economy – Moscow

“We have a situation that’s very bad for Cuba. They have no money. They have no oil... They lived off Venezuelan money and oil, and none of that’s coming now,” he said.

The US President has expressed confidence that the sides will work out a deal and that Washington would be “kind” to Havana.

Trump did not explain which specific concessions he wants from the Cuban government, only saying that “we have a lot of people in the US right now that would love to go back to Cuba and we’d like to work that out.”

Russian Foreign Ministry spokeswoman Maria Zakharova accused Washington of the “economic suffocation” of Cuba on Saturday. She reiterated Moscow’s opposition to unilateral sanctions not endorsed by the UN, expressing confidence that Havana would be able to overcome its economic difficulties.

The Cuban authorities have declared an “international emergency” over Trump’s pressure campaign, which they are describing as an “extraordinary threat” originating in “the US anti-Cuban neo-fascist right wing.”

The Financial Times claimed earlier that Cuba only has enough oil to last 15 to 20 days at the current level of demand and domestic production.



Costa Rica elects Laura Fernandez president

in first round

Laura Fernandez Delgado of the Sovereign People (Pueblo Soberano) party celebrates after winning the presidential elections in San Jose, Costa Rica, on Sunday. Costa Ricans also elected 57 members of the Legislative Assembly for the 2026–2030 term. Photo by Jeffrey Arguedas/EPA
Laura Fernandez Delgado of the Sovereign People (Pueblo Soberano) party celebrates after winning the presidential elections in San Jose, Costa Rica, on Sunday. Costa Ricans also elected 57 members of the Legislative Assembly for the 2026–2030 term. Photo by Jeffrey Arguedas/EPA

Feb. 2 (UPI) -- Laura Fernandez Delgado was elected president of Costa Rica after winning the first round of the country's presidential election. Fernandez will take office May 8 and will become the second woman to lead the Central American nation.

The candidate of the Pueblo Soberano Party, the ruling party of outgoing President Rodrigo Chaves, won about 49% of valid votes Sunday, which that allowed her to avoid a runoff and secure continuity of the current administration's political project.

According to Costa Rica's Supreme Electoral Tribunal, voter turnout reached about 69% of the electoral rolls.

With more than 93% of polling stations counted, Fernandez built a clear lead over her rivals. National Liberation Party candidate Alvaro Ramos placed second with just over 32% of the vote. Claudia Dobles of the Agenda Ciudadana Coalition followed with about 4.7%.

Fernandez, a 39-year-old political scientist and former minister of the presidency, built her political career within Chaves' inner circle after holding key posts in the executive branch.

The ruling party framed her candidacy as a bid for continuity during a campaign marked by political polarization and a fragmented opposition.

In Congress, the results fell short of the ruling party's goals. The Pueblo Soberano Party did not reach its target of winning 40 seats in the 57-member Legislative Assembly.

That threshold was described at different points as necessary to advance major reforms, including changes to the functioning of institutions and the justice system, according to public statements by ruling party leaders and academic analysis cited by local daily El Observador.

In her victory speech, Fernandez said her election opens the way to a "Third Republic" in Costa Rica.

"The change will be deep and irreversible," Fernandez said, pledging reforms to the state and a push for free enterprise, trade and expanded opportunities for young people and women, digital outlet CR Hoy reported.

Economic policy featured prominently in her remarks and proposals. During 2024 and 2025, Costa Rica recorded stronger growth, falling unemployment and lower public debt, achievements Fernandez has credited to the outgoing administration.

According to the 2025 State of the Nation report, known as PEN, those figures made Costa Rica the fastest-growing economy among members of the Organization for Economic Cooperation and Development.

Fernandez called on the opposition to play a watchdog role without obstructing governance. She defended press freedom and urged newly elected lawmakers to act with prudence and responsibility in the new political landscape.

Her administration will face immediate challenges, including rising violence linked to drug trafficking and organized crime. Costa Rica closed 2025 with 873 homicides, one of the highest figures in its recent history, with a reported rate of 16.7 per 100,000 people, according to judicial authorities.

Several opposition figures have warned that an officialist victory could lead to an "authoritarian path," Infobae reported, citing concerns fueled by Chaves' repeated clashes with other branches of government, including Congress, the judiciary, the Supreme Electoral Tribunal and critical media outlets.

In her first statements after the win, Fernandez said she plans to follow her predecessor's legacy over the next four years and rejected proposals for a sharp political break.



    Argentina privatizes natural gas imports,

    ends government role

    Argentina has authorized private companies to import and sell liquefied natural gas -- a move that removes the state from those operations. File Photo by Olivier Hoslet/EPA
    Argentina has authorized private companies to import and sell liquefied natural gas -- a move that removes the state from those operations. File Photo by Olivier Hoslet/EPA

    BUENO AIRES, Jan. 30 (UPI) -- The Argentine government authorized private companies to import and sell liquefied natural gas -- a move that removes the state from those operations and accelerates the privatization of Enarsa, the country's public energy company.

    The decision was formalized through a decree signed by President Javier Milei and published in the Official Gazette this week. The decree also extends through December 2027 a state of emergency in natural gas transportation and distribution, underscoring continued strain on the system.

    Enarsa has historically handled production, transportation and marketing of oil, natural gas and electricity in Argentina. With the new policy, the government begins dismantling that role and shifting functions long overseen by the state to the private sector.

    The decision addresses a long-standing structural problem. According to the Secretariat of Energy, Argentina lacks sufficient pipeline capacity to move all gas from producing areas to major urban centers.

    That limitation becomes acute in winter. As heating demand rises, domestic supply falls short and the country must import liquefied natural gas by ship.

    Until now, the state managed that process. Enarsa bought LNG on the international market at high prices and sold it domestically at well below cost, with the gap covered by taxpayer-funded subsidies.

    "This change is part of the decision to move forward with privatizing Enarsa's assets and activities and to remove the state from its role as an entrepreneur and intermediary in the energy market," the Energy Secretariat said.

    Officials said the state should focus on regulating the market, ensuring clear rules, promoting competition and guaranteeing supply rather than directly buying and selling gas.

    Under the new framework, Enarsa will stop importing and marketing LNG, and private operators will take over under a competitive scheme.

    The system eliminates the implicit subsidy that existed until now and transfers the entire operation to the private sector, subject to competition rules and state oversight.

    To implement the plan, the government will sell access to the Escobar terminal on the outskirts of Buenos Aires. It is the country's only operational facility where imported LNG is regasified for distribution.

    The Secretariat of Energy will set the tender conditions. If no bids are received or the process fails, Enarsa may intervene temporarily to avoid supply disruptions.

    Because only one terminal is operating, the government also said it will set a maximum gas price for the upcoming winter to prevent abuse of a dominant position.

    Juan José Carbajales, a former undersecretary of hydrocarbons, told UPI that privatization basically means giving a private company the job of buying LNG shipments and then selling that gas inside Argentina.

    He said the operation is purely commercial and does not include physical management of the Escobar terminal.

    "The scheme will be based on requests the awardee receives from power generators and gas distributors, and sales will be capped by a maximum price set by the Energy Secretariat at least for the next two periods," Carbajales said.

    He said the decision reflects the government's view that the function failed under state management -- a stance rooted in broader distrust of public-sector economic activity, in this case Enarsa.

    He said the position is ideological and supported by the so-called Bases Law, which prioritizes private initiative in the economy.

    The former official added that large budget allocations to Enarsa did not prove a system failure, but rather a political decision by successive administrations to channel residential gas subsidies by buying fuel at international prices and selling it domestically at far lower levels.

    He said the measure also aligns with reforms in the electricity market aimed at gradually returning to a system of free contracting between supply and demand.

    Carbajales warned gas prices in Argentina could rise if international conditions push LNG costs higher.

    "Although the government will cap that value for two years, uncertainty will remain about what happens once the ceiling is lifted," he said.

    The authorization for private companies to import natural gas is part of a broader privatization agenda promoted by Milei. Since taking office in December 2023, his administration has moved to sell or prepare for sale several state-owned companies.


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