US EditionUS says it will allow resale of Venezuelan oil to Cuba
The US Treasury permits Venezuelan oil resale to Cuba's private sector to ease fuel shortages, with 96.4% of small businesses severely impacted, excluding government and military use.
- On Feb 26, 2026 the U.S. Treasury Department announced that oil and gas sales to Cuba may be authorized when destined for private-sector and humanitarian use, relying on the SCP License Exception.
- Facing severe shortages, Cuba eased measures and for the first time in nearly 70 years authorized private-sector fuel imports, following U.S. sanctions targeting Venezuela's oil exports.
- The Treasury Department clarified permitted conditions, OFAC warned exporters, and notes say shipments may depart from the United States even if sourced in Venezuela.
- Rubio warned sanctions would snap back if oil reaches the government or military, and the Treasury announced aid routed through the Catholic Church.
- Regional officials warned that further deterioration in Cuba could impact the region and trigger migration, with aid routed through the Catholic Church, and Canada announced $8 million in aid.
83 Articles
83 Articles
US Treasury to Allow Resale of Venezuelan Oil to Cuba to Ease Island’s Fuel Crunch
The U.S. Treasury Department on Wednesday announced a new licensing policy to streamline the resale of Venezuelan oil to Cuba, with the goal of supporting the island’s private sector and bolstering humanitarian efforts amid ongoing fuel crises. The Office of Foreign Asset Control (OFAC) will extend the new licensing policy to specific applications seeking authorization for the resale of Venezuelan oil for use in Cuba. The move was done “in accor…
The US apparently wants to loosen the oil blockade against Cuba.
The US has partially eased its oil embargo on Cuba, allowing the sale of Venezuelan oil to Cuba amidst its economic crisis. According to AFP, the US Treasury Department announced on the 25th that Venezuelan oil will be used for commercial and humanitarian purposes in Cuba.
Coverage Details
Bias Distribution
- 46% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
