Fuel Lifeline: U.S. Eases Oil Flow from Venezuela to Cuba

The U.S. Treasury Department announced a policy change on Wednesday that could help Cuba alleviate its severe fuel shortage. The plan permits companies to obtain licenses for reselling Venezuelan oil to Cuba.

Relations have been tense since the U.S. took control of Venezuela's oil exports in January, subsequently halting supplies to Cuba. President Donald Trump has insisted that allies of Venezuela, including China and Cuba, pay fair market rates for oil shipments.

The newly announced license policy outlines requirements that future transactions prioritize Cuba's private sector and the Cuban people, explicitly excluding deals with governmental or military entities in Cuba. License applicants aren't required to have a U.S.-based entity.