The Foreign Assets Control Office of the US Treasury Department said on February 25 that "will implement preferential licensing policies for specific licensing applications to resell oil originating from Venezuela for use in Cuba".
The US Treasury Department emphasized, "this preferential licensing policy is aimed at transactions to support Cuban people, including the Cuban private sector (e.g. exports for commercial and humanitarian purposes in Cuba)". Transactions involving the military, government or Cuban intelligence agencies will not be within the scope of this policy.
The US easing of sanctions takes place in the context that life in Cuba is being strongly affected by fuel shortages. Power outages in Cuba have forced hospitals to reduce services and garbage collectors to temporarily suspend work, causing garbage to pile up in Cuban cities.
The US military's arrest of Venezuelan President Nicolas Maduro last month has affected Cuba's economy because Venezuela is an important oil supplier to Cuba. Venezuela is said to have the largest oil reserves in the world.
In addition to the restrictions on oil supplies to Cuba, the US has also imposed a widespread trade embargo on Cuba since 1962.
When Cuba faced a humanitarian emergency, the Canadian government announced on February 25 that it would provide 8 million Canadian dollars (5.8 million USD) in humanitarian aid to Cuba through the United Nations' World Food Program and UNICEF.
When Cuban people face significant difficulties, Canada stands side by side with them and is providing targeted aid to help address urgent needs" - Canadian Foreign Minister Anita Anand informed.
The Canadian Foreign Minister emphasized that, through reliable humanitarian partners, the country is providing timely support to vulnerable communities and reaffirms Canada's commitment to the happiness and dignity of the Cuban people.
Meanwhile, US Secretary of State Marco Rubio is attending the Caribbean Community (CARICOM) summit on February 25, as regional leaders are increasingly concerned about US policies in the Western Hemisphere.
Foreign Minister Rubo did not mention Cuba in his speech at the meeting in Saint Kitts and Nevis, but defended US policy towards Venezuela.
