They will sell Venezuelan oil to individuals in Cuba

Washington. The United States Department of the Treasury, through the Office of Foreign Assets Control (OFAC), announced that it will allow the resale of Venezuelan oil to non-governmental sectors in Cuba, a measure that could contribute to combating fuel shortages on the island.

The agency assured that “this favorable licensing policy is aimed at transactions that support the Cuban people, including the private sector.”

He stated that “the new licensing policy will not cover transactions involving any person or entity associated with the Cuban army, intelligence services or other government institutions.”

The United States stated that the Cuban government controls a wide swath of the country’s economy, but in 2024, private initiative marketed 55 percent of the goods and services on the Caribbean island, according to Financial Times.

The announcement was made within the framework of a summit of the Caribbean Community (Caricom) to address the situation in Cuba and Venezuela. The Cuban-American Marco Rubio, United States Secretary of State, attended the meeting.

The official has stood out for promoting the end of the socialist government in Havana, in addition to defending the US military operation to kidnap President Nicolás Maduro on January 3 in Caracas.

Supply control

For more than 25 years, Venezuela had been the island’s main supplier of crude oil and fuel through a bilateral pact.

Washington took control of Venezuela’s oil exports, so the South American country’s supply to Cuba practically disappeared, worsening its energy crisis.

For its part, Mexico, which had become an alternative supplier, also stopped shipments to Cuba since a shipment of fuel arrived in Havana in January, according to maritime transport data.