Cuba to Allow Investment from Nationals Living Abroad Amid Economic Woes

The move comes as the country faces pressure from the Trump administration over oil shortages.

Mar. 16, 2026 at 9:05pm

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The Cuban government is planning to allow Cuban nationals who live abroad, including in the U.S., to invest in companies on the island, a top government official told NBC News. This marks a notable shift for the country, which has had a largely state-controlled economy for decades and heavily restricted residents from starting private businesses until 2021. The policy change comes as Cuba grapples with a collapsing energy grid and bouts of public protest, with the Trump administration threatening steep tariffs on any country that ships oil to Cuba.

Why it matters

Cuba's move to open up investment from its nationals living abroad is a significant shift in its economic policies, as the country faces immense pressure from the Trump administration and an ongoing energy crisis. This could provide a much-needed influx of capital and expertise, but also raises questions about the risks and benefits for foreign investors given the U.S. sanctions on the island.

The details

Deputy Prime Minister Oscar Pérez-Oliva Fraga told NBC News that Cuba is "open to having a fluid commercial relationship with U.S. companies [and] also with Cubans residing in the United States and their descendants," and that the country is open to "not only small investments, but also large investments, particularly in infrastructure." Fraga indicated that the new policy would be announced on Monday night. The policy change comes as Cuba grapples with a collapsing energy grid and bouts of public protest, with the Trump administration threatening steep tariffs on any country that ships oil to Cuba.

  • The new investment policy is expected to be announced on Monday night (March 16, 2026).
  • The Trump administration threatened steep tariffs earlier this year on any country that ships oil to Cuba, choking off the country's access to petroleum and leading to fuel shortages.

The players

Oscar Pérez-Oliva Fraga

The Deputy Prime Minister of Cuba who announced the country's plans to allow investment from Cuban nationals living abroad.

Donald Trump

The President of the United States who has put pressure on Cuba through sanctions and threats of military action.

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What they’re saying

“Cuba is open to having a fluid commercial relationship with U.S. companies [and] also with Cubans residing in the United States and their descendants. We are open to not only small investments, but also large investments, particularly in infrastructure.”

— Oscar Pérez-Oliva Fraga, Deputy Prime Minister of Cuba (NBC News)

“To invest in Cuba and be assured that you're going to be able to, for the companies, be able to keep most of your earnings, that's not very clear.”

— Andy Gomez, Professor of Cuban Studies, University of Miami (CBS Miami)

What’s next

The new investment policy is expected to be announced by the Cuban government on Monday night.

The takeaway

Cuba's decision to open up investment from its nationals living abroad represents a significant shift in its economic policies, as the country faces immense pressure from the Trump administration and an ongoing energy crisis. While this move could provide a much-needed influx of capital and expertise, the risks for foreign investors remain high due to the U.S. sanctions on the island.