Venezuelan oil threat for Cuba; Iran deaths rise after protests

Ata mārie and welcome to your first Morning Brew of 2026. Let’s recap the key stories from around the world over the weekend.

First this Monday, US President Donald Trump threatened no more Venezuelan oil or money would go to Cuba. Venezuela is Cuba’s biggest oil supplier, but no cargoes have departed from Venezuelan ports to the Caribbean country since the capture of Venezuelan President Nicolas Maduro, CNBC reported.

“THERE WILL BE NO MORE OIL OR MONEY GOING TO CUBA - ZERO! I strongly suggest they make a deal, BEFORE IT IS TOO LATE,” Trump wrote.

“Cuba lived, for many years, on large amounts of OIL and MONEY from Venezuela.”

Trump also asked for at least US$100 billion for Venezuela in oil sector spending, but executives warned the South American country was currently "uninvestable", the BBC reported.

While oil firms acknowledged that Venezuela was sitting on vast energy reserves, they said significant changes would be needed to make the region an attractive investment.

Exxon chief executive Darren Woods said his firm had assets seized twice. “You can imagine to re-enter a third time would require some pretty significant changes from what we've historically seen and what is currently the state."

Venezuela has had a complicated relationship with international oil firms since oil was discovered in its territory more than 100 years ago. Chevron is the last remaining major US oil firm still operating in the country, the BBC noted.

Meanwhile, Trump continued his threats aimed at Greenland and insisted if the US did not act Russia or China could occupy it in the future, CNN reported.

“We are going to do something in Greenland, whether they like it or not, because if we don’t do it, Russia or China will take over Greenland, and we’re not going to have Russia or China as a neighbour,” Trump said.

Elsewhere, Iran warned the US and Israel against any intervention over nationwide protests which have killed at least 200 people and injured scores of others, as demonstrations enter a third week, Bloomberg reported.

Iranian President Masoud Pezeshkian offered condolences to families affected by the “tragic consequences” of the unrest.

“Your protests must be heard, and we must address your concerns. Let’s sit down together, hand in hand, and solve the problems,” he said.

“I promise the dear people, perhaps 90% of whom have concerns, that we will address their worries. We will get through this crisis.”

Pezeshkian pledged to overhaul Iran’s struggling economy. “Our goal is to distribute everything we have fairly among the people; regardless of what party, faction, ethnicity, race, or even province, dialect, or language these people belong to.”

In late December, Iran’s currency plummeted after years of economic stress, triggering mass protests over higher living costs and inflation.

Warships from China, Russia and Iran arrived in South African waters for a week of naval drills, Al Jazeera reported.

China’s defence ministry said the exercises reinforced joint operations to safeguard shipping lanes and economic activities. It added that strikes on maritime targets and counter terrorism rescues would be part of the drills.

Over the Ditch, human remains were discovered as Australia’s bushfire emergency takes a fatal turn in Victoria, the ABC reported.

A total fire ban remains in place while poor air quality is forecast across Victoria from today as more than 20 bushfires continue to burn.

Victoria Police said the deceased person had been found near the town of Gobur, about 100 metres from a vehicle, after crews gained access on Sunday afternoon.

The person has yet to be formally identified.

In business news, retail giant Walmart and tech firm Google announced a tie-up venture in which shoppers could soon use Google’s artificial intelligence assistant Gemini to buy products, CNBC reported.

Incoming Walmart chief executive John Furner and Google chief executive Sundar Pichai did not say when the new feature would be available. Walmart already has its own AI chatbot, a yellow smiley-faced assistant called Sparky.

“The transition from traditional web or app search to agent-led commerce represents the next great evolution in retail,” Furner said. “We aren’t just watching the shift; we are driving it. [Walmart is] rewriting the retail playbook.”