Cuba’s annual cigar fair, which was set to be held the last week of February, has been postponed organizers said, as the island faces blackouts and severe fuel shortages brought about by a U.S 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.”

Habanos S.A., a joint venture between the state-owned company Cubatabaco and international firm Altadis, holds the global monopoly on Cuban cigar sales.

Every year, the company hosts the annual Habanos Festival, a key 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 also reported record sales of $827 million.

Wendy’s closing hundreds of restaurants

Wendy’s is closing several hundred U.S. restaurants and increasing its focus on value after a weaker-than-expected fourth quarter.

The Dublin, Ohio-based company said Friday that its global same-store sales, or sales at locations open at least a year, fell 10% in the October-December period. That was worse than the 8.5% drop expected by analysts polled by FactSet.

U.S. same-store sales fell even further in the fourth quarter.

Wendy’s said it already closed 28 restaurants in the fourth quarter and ended 2025 with 5,969 U.S. locations. It expects to close between 5% and 6% of its U.S. restaurants – or 298 to 358 locations – in the first half of this year.