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00:02The U.S. Treasury Department said Wednesday it will allow companies to apply for licenses
00:06to resell Venezuelan oil to Cuba's private sector to ease fuel shortages, according to Benzinga.
00:12Guidance requires transactions to support the Cuban people and bars deals benefiting
00:17the Cuban military or government entities. Venezuelan oil shipments to Cuba stopped in
00:22January after the U.S. captured former President Nicolas Maduro and took control of Venezuela's
00:27exports, deepening Cuba's energy crisis. In January, President Trump signed an executive
00:33order targeting countries that supply oil to Cuba as part of a broader pressure campaign
00:37on Havana. Cuban President Miguel Diaz-Canel called the move unjust and an attempt to suffocate
00:43the island's economy. The U.S. has redirected Venezuelan oil revenue into a Treasury account.
00:49Energy Secretary Chris Wright said sales have surpassed $1 billion.
00:53For all things money, visit Benzinga.com.
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