MIAMI — President Donald Trump’s administration announced on Wednesday that the U.S. will be allowing oil to fuel Cuba’s private sector.
The U.S. Treasury Department will issue licenses to resell Venezuelan oil to some Cubans, according to the department’s Office of Foreign Asset Control’s guidance statement.
“These would be sales to a very small private sector that exists in Cuba,” U.S. State Secretary Marco Rubio said on Wednesday during a news conference.
According to the OFAC’s guidance, applicants “need not necessarily” have an established U.S. entity.
The U.S. Department of Commerce primarily regulates the export or reexport of “U.S.-origin oil” to Cuba.
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