Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
New York, February 25 (Xinhua) — The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) will authorize the resale of Venezuelan oil to Cuban non-governmental organizations (NGOs), OFAC announced on Wednesday.
The agency said it would pursue a "favorable licensing policy" for specific applications for permits to resell Venezuelan oil to Cuba.
According to OFAC, this “favorable licensing policy” applies to transactions including exports for commercial and humanitarian use in Cuba and other private sector transactions in that country.
Transactions involving or for the benefit of any persons or entities associated with the Cuban armed forces, intelligence services, or other government agencies will not be subject to this favorable licensing policy, OFAC stated.
The United States declared Cuba an "unusual and extraordinary threat" to national security, declaring it would halt Venezuelan oil supplies to Cuba following the January military operation to capture Venezuelan President Nicolás Maduro. The United States subsequently took control of Venezuelan oil exports.
On January 29, US President Donald Trump signed an executive order imposing duties on imports from countries supplying oil to Cuba. –0–
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