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in USA

US To Authorize Resale Of Venezuelan Oil To Cuba

Comfort Ampomaaby Comfort Ampomaa
February 26, 2026
Reading Time: 4 mins read
U.S Treasury Department symbol.

U.S Treasury Department symbol.

In a move that could ease the island’s acute fuel shortages, US disclosed that it will allow the resale of some Venezuelan oil to Cuba.

Venezuela had been the main supplier of crude and fuel ⁠to Cuba for the past 25 years through a bilateral pact mostly based on the barter of products and services but since the US abducted Venezuelan President Nicolas Maduro last month and took control of the country’s oil exports, Caracas’s supply to Cuba has ceased.

Mexico, which had emerged as an alternate supplier, also halted shipments to the Caribbean island after the US threatened tariffs on countries that send oil to Cuba. The US blockade has worsened an energy crisis in Cuba that is hitting power generation and fuel for vehicles, houses and aviation.

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The Nicos IV oil tanker, sailing under the flag of Saint Vincent and the Grenadines, is seen alongside other tanker vessels in the Port of Matanzas, Cuba, on February 17, 2026.

In a statement, the US Treasury Department said that it would authorise companies seeking licences to resell Venezuelan oil for “commercial and humanitarian use in Cuba.”

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It said that the new “favorable licensing policy” would not cover “persons or entities associated with the Cuban military, intelligence services, or other government institutions.”

The new measure comes as neighbouring countries raised the alarm over a rapidly deteriorating humanitarian situation caused by Washington’s oil blockade.

Caribbean leaders gathering in Saint Kitts and Nevis expressed alarm at the impacts of the blockade on the island nation of some 10.9 million people. Speaking to Caribbean leaders during a meeting of the regional political group CARICOM on Tuesday, Jamaican Prime Minister, Andrew Holness affirmed solidarity with Cuba.

“Humanitarian suffering serves no one. A prolonged crisis in Cuba will not remain confined to Cuba.”

Andrew Holness

The Caribbean summit’s host, Saint Kitts and Nevis Prime Minister Terrance Drew, said that friends have told him of food scarcity and rubbish strewn in the streets. “A destabilised Cuba will destabilise all of us,” Drew said.

US Blames Cuban Government For Humanitarian Crisis

However, addressing the meeting in Saint Kitts and Nevis on Wednesday, US Secretary of State, Marco Rubio claimed that the humanitarian crisis had been caused by the Cuban government’s policies, not Washington’s blockade.

Rubio, whose parents migrated to the US from Cuba in 1956, warned that the sanctions would be snapped back if the oil winds up going to the government or military.

Speaking to reporters, Rubio emphasized the need for change.

“Cuba needs to change. It needs to change dramatically because it is the only chance that it has to improve the quality of life for its people.”

Marco Rubio

He said that it is “a system that’s in collapse, and they need to make dramatic reforms.”

Rubio went on to blame economic mismanagement and the lack of a vibrant private sector for the dire situation in Cuba, which has been under communist rule since Fidel Castro’s 1959 revolution.

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“This is the worst economic climate Cuba has faced. And it is the authorities there, and that government, who are responsible for that.”

Marco Rubio

Meanwhile, Mexico and Canada have announced that they would be sending aid to Cuba.

The Canadian government said that it would give CAN $8 million ($5.8 million; almost €5 millon) to Cuba in humanitarian assistance via the UN World Food Program and children’s agency UNICEF.

Canadian Minister of Foreign Affairs, Anita Anand said, “As the people of Cuba face significant hardship, Canada stands in solidarity and is providing targeted assistance to help address urgent needs.”

“Through trusted humanitarian partners, we are delivering timely support to vulnerable communities and reaffirming Canada’s commitment to the well-being and dignity of the Cuban people.”

Anita Anand

Russia’s Deputy Prime Minister, Alexander Novak also said his government was discussing the possibility of providing fuel to the island.

READ ALSO: US Issues New Wave Of Sanctions Against Iran

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Tags: CubaMarco RubioNicolas MaduroUS Treasury DepartmentVenezuelaVenezuelan Oil
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