The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse

Summary

WSJ What’s News — Episode Summary

Episode Title: The U.S. Oil Blockade of Venezuela Is Pushing Cuba Toward Collapse
Date: December 23, 2025
Host(s): Daniel Bach (filling in for Luke Vargas)
Featured Guest(s): Juan Ferrero (WSJ South America Bureau Chief), Damian Paletta, Ray Smith

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Main Theme & Purpose

This episode digs into the ripple effects of the Trump administration’s escalating pressure campaign against Venezuela—particularly its blockade of Venezuelan oil—and how these measures are threatening to push crisis-ridden Cuba to the brink of economic and social collapse. The episode also features coverage of the U.S.–Greenland diplomatic dispute, changes in Washington, and workplace etiquette as offices continue to adjust post-COVID.

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Key Discussion Points & Insights

1. Greenland’s Sovereignty Dispute

[00:47-01:53]

• President Trump appointed Governor Jeff Landry as special envoy to Greenland, stoking diplomatic tensions.
• Denmark and Greenland object strongly, reasserting their sovereignty.
• The U.S. cites Greenland’s strategic value due to Russian and Chinese activities:
  • Ray Smith: “We need Greenland for national security…” [01:41]
  • Juan Ferrero: “You have Russian and Chinese ships all over the place.” [01:46]
• Denmark not consulted prior to the appointment; plans to summon the U.S. ambassador for clarification.

2. Diplomatic Changes Under Trump

[01:53-03:00]

• Trump administration recalling nearly 30 diplomats, mostly Biden-era appointees.
• The State Department defends the move as standard practice, though specifics are undisclosed.

3. U.S. Ban on Chinese Drones

[03:00-03:55]

• FCC bans drones and critical components from Chinese companies like DJI, Otel Robotics.
• Many U.S. commercial pilots object, saying American drones are not competitive.
• DJI: “Disappointed with the FCC’s decision and reiterated the security of their products.” [Paraphrased]

4. Approval of GLP1 Weight-Loss Pill

[03:55-04:24]

• Novo Nordisk receives U.S. approval for tablet formulation of Ozempic/Wegovy.
• Anticipated broad market impact; price and accessibility discussed.

5. Midterm Elections — Congressional Exodus

[04:24-05:11]

• 52 lawmakers not seeking re-election; surpassing prior records.
• Damian Paletta:

  “It used to be considered quite prestigious to be a senator or congressman…a growing number…are deciding this is not for them anymore. They've said there's just too much grief. Congress has become too insignificant. So much is being done by the White House and even the courts have clawed away the powers that Congress used to have.” [04:24]

6. Markets Overview

[05:11-05:39]

• Awaiting delayed Q3 GDP data.
• Gold futures climb above $4,500.

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Special Focus: U.S. Oil Blockade of Venezuela & Consequences for Cuba

Background & Overview

[06:05-06:47]

• U.S. policy aims to choke off revenue for Venezuela, targeting President Maduro, whom the Trump administration blames for fueling migration and drug flows.
• Collateral damage: Cuba, historically reliant on Venezuelan oil, faces energy and humanitarian disaster.

Cuba’s Economic Dependency on Venezuela

[06:47-07:33] — Juan Ferrero

• Historical context: Cuba previously received up to 100,000 barrels/day of subsidized oil.
• Cuba sells some oil for cash, relies on the rest for domestic needs.
• Venezuela’s downward spiral: Shipments have dropped sharply leading to massive blackouts—lights off 18-20 hours/day in some areas.
• Quote:

  “...the light are off for 18, 20 hours a day.” — Juan Ferrero [07:10]

Humanitarian Impact

[07:33-08:28] — Juan Ferrero

• New crisis levels; “a period it hasn’t experienced before in exactly the same way.”
• Acute shortages: hunger, disease outbreaks (dengue/chikungunya), garbage accumulation.
• Officials acknowledge severity but not solutions, highlighting regime’s resistance to practical reform.
• Quote:

  “So it’s a really prolonged and deep economic crisis…they will openly talk about it but they won’t openly talk about what the solutions are.” — Juan Ferrero [07:56]

Mass Migration & Societal Strain

[08:28-09:40] — Juan Ferrero

• Staggering exit rate: 2.7 million (25% of population) left since 2020; mostly young, ambitious risk-takers.
• Population aging rapidly; fertility rate at historic lows.
• If conditions worsen, broader migration attempts likely—even as U.S. clamping down on entries.
• Quote:

  “One highly regarded Havana based demographer told us that more than 2.7 million people had fled the island since 2020. Now that's a quarter of the island's population.” — Juan Ferrero [08:42]

Closing on Cuba

[09:44]

• Daniel thanks Juan Ferrero for insight, underscoring gravity and complexity of unfolding crisis.

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Other Notable Segments

The State of Workplace Etiquette

[10:11-11:16] — Ray Smith & Daniel Bach

• New edition of Emily Post’s Business Etiquette spurs debate on office behaviors in the hybrid world.

• Fierce opinions on phone use in meetings:

  • Should phones be on, on silent, Do Not Disturb, or off?
  • Many cite family communication needs; others see it as a breach of etiquette.

• Ray Smith:

  “People really feel strongly about their ability to have their phone on in a meeting…We learned that people are really struggling with electronic etiquette.” [10:46]

• Only a tiny fraction of quiz takers (<5%) could answer eight or more etiquette questions correctly; newsroom average is 5/10.

• Daniel Bach:

  “We might be wary of shaking your hand if you just sneezed on it.” [11:16]

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Memorable Quotes & Moments

• Ray Smith (on Greenland): “We need Greenland for national security…” [01:41]
• Juan Ferrero (on Cuban collapse): “...the light are off for 18, 20 hours a day.” [07:10]
• Damian Paletta (on Congressional departures): “...there's just too much grief. Congress has become too insignificant. So much is getting done by the White House and even the courts have clawed away the powers that Congress used to have.” [04:24]
• Juan Ferrero (on migration): “...more than 2.7 million people had fled the island since 2020. Now that's a quarter of the island's population.” [08:42]
• Ray Smith (on phones at work): “People really feel strongly about their ability to have their phone on in a meeting…We learned that people are really struggling with electronic etiquette.” [10:46]

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Key Timestamps

• 00:47–01:53: Greenland sovereignty dispute, Trump appoints envoy
• 01:53–03:00: U.S. diplomacy shake-up
• 03:00–03:55: FCC bans Chinese-made drones
• 03:55–04:24: Approval of GLP1 weight-loss pill
• 04:24–05:11: Congressional retirements analysis
• 06:05–07:33: Venezuela oil blockade’s impact on Cuba (Juan Ferrero)
• 07:33–08:28: Humanitarian crisis in Cuba
• 08:28–09:40: Migration statistics, demographic shifts
• 10:11–11:16: Workplace etiquette debates and generational shifts

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Conclusion

The episode masterfully weaves major political and economic headlines—particularly the cascading consequences of U.S. policy in Latin America and the steadily unraveling situation in Cuba. It enriches the news with expert analysis and on-the-ground statistics, while lighter segments on workplace manners capture the ways everyday life is evolving. For listeners seeking clarity on geopolitical moves, their human cost, and the state of current events, this episode is direct, balanced, and packed with rich factual insight.

Transcript

[Daniel Bach]

This episode is brought to you by Business Roundtable, an association of more than 200 CEOs of America's leading companies. Business Roundtable companies are leading the way in expanding opportunity for millions of Americans. Learn more at BRT.org Leadingtheway Denmark and Greenland call on President Trump to respect the island's sovereignty. Plus, Trump's pressure campaign on Venezuela is pushing Cuba toward collapse. And a new guide on workplace matters is stirring up debate, debate among readers.

[Ray Smith]

And they propose that if somebody sort of just wiped their nose after sneezing or just wiped their nose and then extended their hand to you, that you should take that hand, you should shake that hand and just wash it right.

[Daniel Bach]

After it's Tuesday, December 23rd. I'm Daniel Bach for the Wall Street Journal, filling in for Luke Vargas. And here's the AM edition of what's News, the top headlines and business stories moving your world Today, the leaders of Denmark and Greenland are calling on President Trump to respect the sovereignty of Greenland after he appointed a new special envoy to the Arctic territory. On Sunday, Trump named Louisiana Governor Jeff Landry as envoy for the island, which is part of the Kingdom of Denmark and makes up 98% of its territory. Landry, in turn, said he aimed to make Greenland a part of the US In a joint statement, the Danish and Greenlandic prime ministers said that international law guides national borders, adding, quote, the U.S. shall not take over Greenland. Speaking to reporters at Mar a Lago yesterday, Trump said Greenland was of strategic importance.

[Ray Smith]

We need Greenland for national security, and.

[Daniel Bach]

If you take a look at Greenland, you look up and down the coast.

[Juan Ferrero]

You have Russian and Chinese ships all over the place.

[Ray Smith]

We need it for national security. We have to have it.

[Daniel Bach]

Denmark said it wasn't informed about Landry's appointment, adding to a sense in Copenhagen that it's being kept in the dark about Washington's ambitions. Denmark's foreign minister said he would summon the US Ambassador to express his discontent and demand an explanation. Meanwhile, the Trump administration is recalling almost 30 career diplomats from posts in at least 29 countries. The chiefs of mission, both ambassadors and senior staffers appointed during the Biden administration were told last week that their posts were ending in January. That's according to two officials. The State Department declined to comment on specific numbers or ambassadors affected, but it defended the changes, calling them a standard process in any administration. Also in Washington, efforts to ban popular drones made in China have finally paid off. The Federal Communications Commission announced a ban on the tech yesterday. It was prompted by a White House led group that informed the commission the drones posed unacceptable risks. The ban covers all drones and critical components made in a foreign country, including from major Chinese manufacturers like DJI and Otel Robotics. The move has been met with uproar from many of the nearly half a million American commercial drone pilots, many of whom say that American drones just can't compete. DJI said it was disappointed with the FCC's decision and reiterated the security of their products. OTEL didn't respond to a request for comment. U.S. regulators have approved the first GLP1 weight loss pill, a tablet formulation of Novo Nordisks Ozempic and Wegovy. The drug maker said the pills could be available in the US in early January and will cost $149 a month for the starting dose. The move into pill format is expected to broaden the use of the drug. So far, the obesity market has been dominated by weekly shots, which put many people off the idea of taking it, either due to cost, insurance coverage or a fear of needles. Well, as we get closer to 2026, talk of midterm elections is only growing louder in Washington and be a lot of open races. According to Ballotpedia, 52 lawmakers will not be seeking re election. Our Washington coverage chief, Damian Paletta, says that number could soon surpass the 54 who retired in 2018, which was the most in any election cycle going back to 2012.

[Damian Paletta]

It used to be considered quite prestigious to be a senator or congressman. You can shape laws in US Policy. But a growing number of these lawmakers, they're deciding this is not for them anymore. They've said there's just too much grief. Congress has become too insignificant. So much is getting done by the White House and even the courts have clawed away the powers that Congress used to have. So there's a growing number of lawmakers now in both parties who are deciding this is not for them. What you're losing, quite frankly, you're losing a lot of experience. You're using lawmakers who might have felt like they had a specialty in a certain policy that could benefit voters in their districts. So what you might be gaining then is openings. So it does create opportunity for people on both the left and the right who might have the chance of a lifetime.

[Daniel Bach]

In markets, investors are looking ahead to the delayed third quarter U.S. gDP data coming at 8:30am Eastern. Stock futures are muted and gold prices are continuing their ascent, with futures topping $4,500. Coming up, we look at how Trump's pressure campaign on Venezuela is pushing Cuba towards collapse. Plus we brush up on the new World of hybrid workplace etiquette. After the break.

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[Daniel Bach]

For months, the Trump administration has been dialing up the pressure on Nicolas Maduro, the Venezuelan strongman that the White House accuses of letting immigrants and drugs flow into the United States. And though the recent blockade of oil tankers is meant to choke off a key source of revenue for Caracas, people in Cuba are really feeling the impact of this move. Already. In the throes of a prolonged crisis, Cuba's economy risks collapsing if shipments of cheap oil supplied by Venezuela are cut off, which could lead to even more people trying to flee the country. For more on this, I'm joined by the Journal's South America bureau chief, Juan Ferrero. Juan, first off, give us a sense of how heavily Cuba relies on Venezuela.

[Juan Ferrero]

Well, Cuba relies on Venezuela more than any other country in the world. Back in the day when Venezuela was in much better economic shape, it used to ship more 100,000 barrels a day in cut rate oil, which is just a huge amount. Cuba would sell some of that on the spot market and then it would use the rest to keep its economy working. Now because Venezuela has, over the last decade or so almost suffered an economic collapse, the amount of oil going to Cuba has also fallen dramatically. And that means that Cuba is going through long and protracted blackouts in some parts of the country, the light are off for 18, 20 hours a day.

[Daniel Bach]

And given the situation now, is there anything that Cuba can do and how long could this last?

[Juan Ferrero]

I think Cuba is entering into a period it hasn't experienced before in exactly the same way. We're seeing a lot of hunger in Cuba. We're seeing people suffering from diseases like dengue and chikungunya. There's a lot of garbage in the streets. People there tell us so. It's a really prolonged and deep economic crisis. You hear Cuban officials from the president on down talk about how the problems are severe. They will openly talk about it, but they won't openly talk about what the solutions are. So I don't see where there is much of a change in Cuba because it is a hardline communist regime and this is not a government that has shown that it is open to change.

[Daniel Bach]

And just lastly, Juan, there are some pretty staggering statistics in your story, including recent polling that found almost 80% of people say they intend to flee the island. What could that mean for the United States?

[Juan Ferrero]

Yeah, the migration numbers are just startling. One highly regarded Havana based demographer told us that more than 2.7 million people had fled the island since 2020. Now that's a quarter of the island's population. And we have to keep in mind that those are people who are young, they're ambitious, they're the people who are willing to take risks. They're the people who are able to get the money together and get off the island, which is not cheap to do.

[Ray Smith]

So.

[Juan Ferrero]

This is a serious blow to Cuba because it's increasingly an island filled with older people. The fertility rate in Cuba is also incredibly low. Now, if the situation gets far worse, we would expect that more would be leaked. Leaving from Cuba, trying to leave the United States under Trump has been cracking down on migration. So it's unclear if they'd be able to get into the United States, but they might try to test the United States.

[Daniel Bach]

That's the Journal South America bureau chief Juan Ferreiro. Juan, thank you for this.

[Juan Ferrero]

Thank you.

[Daniel Bach]

And finally, as you prepare to celebrate the holidays this year, you might be switching into family mode and leaving any thoughts of work behind until. But if you're looking for something to do over the Christmas period or need a goal for 2026, how about using the time away from the office to polish up on your workplace manners?

[Ray Smith]

The office etiquette quiz idea came from the publication of a new version of Emily Post's Business Etiquette.

[Daniel Bach]

That's Ray Smith, who covers career and workplace issues for the Journal.

[Ray Smith]

When I saw that book come out, it got us to thinking we should do something on where people are with office etiquette, work etiquette, especially Post Covid as we're all adjusting, still adjusting to hybrid work.

[Daniel Bach]

Ray says. One question in the quiz in particular has become the subject of rigorous debate among Journal readers. Whether phones are okay in meetings.

[Ray Smith]

People really feel strongly about their ability to have their phone on in a meeting, even if it's on silent. There was a lot of debate about whether you should have it on silent, whether you should have it on dnd like do not disturb mode before you enter the meeting, whether you should have it off. There are a lot of people saying, I need my phone on. You know, my kids are trying to reach me. We learned that people are really struggling with electronic etiquette.

[Daniel Bach]

Think you've got perfect office manners. We've left a link to take the quiz in our show notes the average score here on the what's News team was about 5 out of 10. We're definitely okay with our colleagues taking phone calls in the newsroom, but we might be wary of shaking your hand if you just sneezed on it. And so you know, fewer than 5% of readers answered eight or more questions correctly. And that's it for what's News for this Tuesday morning. Today's show was produced by Hattie Moyer. Our supervising producer was Chris Zinsley, with help from Christina Rocco. And I'm Daniel Bach for the Wall Street Journal. We'll be back to tonight with a new show. Until then, thanks for listening.

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