Miguel Díaz-Canel remains Cuba’s president and Communist Party first secretary in mid-2026, actively directing economic reforms including a package of 176 measures approved by the National Assembly and Central Committee to address distortions, boost production, and expand limited private-sector roles while preserving state control over key assets. Severe energy shortages, fuel constraints from the U.S. blockade, and personal sanctions imposed on him and associates have intensified pressure on the leadership, prompting limited bilateral talks with Washington on humanitarian and energy issues. Raúl Castro continues to hold significant influence behind the scenes, and Díaz-Canel’s term extends to 2028, with succession governed by National Assembly procedures. Trader sentiment reflects the balance between entrenched institutional continuity and external sanctions plus domestic economic strains that could accelerate leadership transitions.