The US Treasury Department would grant licenses for companies that want to resell Venezuelan oil to Cuba’s private sector, according to Reuters. The move aims to alleviate the island’s acute energy crisis following the halt of Venezuelan oil shipments in January. The crisis intensified after Washington assumed control of Venezuela’s oil exports following the capture of leader Nicolas Maduro.

The Treasury’s guidance clarifies that authorized transactions must exclusively support the Cuban people, including the private sector. Any transactions involving or benefiting the Cuban military or government institutions remain prohibited.

This policy shift follows statements from US President Donald Trump, who mandated that Venezuela’s allies, including China and Cuba, must pay fair market prices for oil cargoes previously obtained through swaps or debt repayments.

Large trading houses, including Vitol and Trafigura, are currently managing the majority of Venezuela’s oil exports. While millions of barrels are being exported to the US, Europe, and India, additional volumes are stored at Caribbean terminals awaiting authorized resale.

US Secretary of State Marco Rubio, speaking from St. Kitts and Nevis, stated that the humanitarian crisis is a result of Cuban government policies rather than a US blockade. “If the Cuban people are suffering, it is because the regime is standing in the way of help,” Rubio said.

Despite the new licensing framework, it remains unclear if Cuban private entities can afford spot-market purchases. The Cuban government recently authorized micro, small, and medium-sized enterprises (MSMEs) to import fuel independently to ease the domestic shortage.

The US Bureau of Industry and Security had previously issued guidance allowing the export of US petroleum products to eligible Cuban private entities. However, several fuel cargoes have remained undelivered since December due to ongoing diplomatic and financial pressures.