With US Oil Embargo, Cuba Scraps Cigar Fair for Now

Cuba's annual cigar fair, which was scheduled for the last week of February, has been postponed, organizers said Saturday, as the island faces blackouts and severe fuel shortages brought about by a US oil embargo. In a statement, the cigar fair's organizer, Habanos S.A. said it decided to postpone the iconic event to "preserve its high standard of quality," the AP reports. Habanos SA, a joint venture between the state-owned company Cubatabaco and international firm Altadis, holds the global monopoly on Cuban cigar sales. A new date for the fair was not announced.

Every year, the company hosts the Habanos Festival, a big event for cigar aficionados and distributors worldwide, where attendees tour tobacco plantations, participate in auctions, and witness the latest in craftsmanship. Last year, the event closed with an auction in which $18 million was paid for a batch of highly coveted, hand rolled cigars. The company last year reported record sales of $827 million. Several cultural events, including a book fair, have been postponed in Cuba this month as the island grapples with the most severe fuel shortages and power blackouts in years. In late January, President Trump threatened to impose tariffs on any country that sold oil to Cuba, as Washington puts more pressure on the island's communist leadership to implement political and economic reforms.