United States authorizes sale of oil to Cuba under conditions
"Gas and other petroleum products exported and re-exported to Cuban private sector entities or individuals for personal use may be authorized under the SCP License Exception," says the US Treasury.
TL;DR
- The U.S. Treasury Department has authorized the sale of oil and gas to Cuba.
- Sales are permitted only if the fuel is destined for the private sector (citizens and businesses).
- This move aims to alleviate the critical situation in Cuba caused by previous U.S. sanctions on oil exports.
- The authorization falls under the SCP License Exception.
- Exports must be for private sector use and economic activities, including humanitarian needs.
- This clarifies conditions for potential exporters after U.S. officials were asked questions.
- The oil and gas will originate from the United States, even if the initial source was Venezuela.