US Eases Venezuela Oil Sanctions for Cuba Amid Caribbean Crisis Concerns
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US Eases Venezuela Oil Ban to Cuba Amid Caribbean Crisis Warnings
M
Moneycontrol•26-02-2026, 01:58
US Eases Venezuela Oil Ban to Cuba Amid Caribbean Crisis Warnings
•The US softened its ban on Venezuelan oil exports to Cuba, allowing transactions for "commercial and humanitarian use" through private businesses.
•The move comes as Cuba faces a severe economic crisis, prompting warnings from Caribbean leaders about regional instability and migration.
•US Secretary of State Marco Rubio defended the January 3 US attack that deposed Venezuela's leftist leader, stating Venezuela is "better off today."
•Jamaican Prime Minister Andrew Holness and Saint Kitts and Nevis Prime Minister Terrance Drew warned that a destabilized Cuba would impact the entire Caribbean.
•Canada announced Can$8 million in aid for Cuba, which is experiencing blackouts and fuel shortages.