Feb. 26 (UPI) -- The U.S. Office of Foreign Assets Control said it will allow certain operations to resell Venezuelan-origin oil destined for Cuba, provided the fuel is used by citizens and private companies on the island.
The island nation relied for years on Venezuela for fuel, but shipments stopped after the United States captured Nicolás Maduro on Jan. 3 and took control of Caracas' energy industry.
After the operation, President Donald Trump repeatedly warned that Cuba was on the brink of economic collapse, and he threatened to impose further economic pressure on the country to reach an agreement with the United States. Trump has not publicly defined what kind of agreement he seeks.
The trade measure, published Wednesday, says that the transactions must comply with the conditions of General License 46A for Venezuela. This license is an authorization issued by foreign assets office that allows companies to conduct operations involving Venezuelan oil under specific terms, despite the sanctions in place against that country's energy sector.
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