US issues guidance on licenses for resale of Venezuelan origin oil for use in Cuba

WASHINGTON, Feb 25 (Reuters) - The U.S. Treasury on Wednesday said it would implement a favorable policy toward applications for specific licenses seeking authorization for resale of Venezuelan origin oil for use in Cuba, according to guidance posted on the department's website.

The favorable licensing policy is directed toward transactions that support the Cuban people, including the private sector, it said, while transactions involving or benefiting the Cuban military or other government institutions would not be covered.