Trump says no more Venezuelan oil or money will go to Cuba

President Trump announced that Venezuelan oil and money will no longer go to Cuba, and separately U.S. and Venezuelan officials are progressing on a US$2 billion oil-for-funds arrangement.

President Donald Trump announced that no more Venezuelan oil or money will be sent to Cuba and urged the island to reach a deal with Washington. Shipping data reported that no Venezuelan cargoes have departed for Cuba since the reported capture of Venezuelan President Nicolás Maduro and an oil blockade. At the same time, officials in Caracas and Washington are reported to be advancing a US$2 billion arrangement to supply oil to the United States with proceeds held in Treasury-supervised accounts. Cuba's foreign minister publicly said the country has the right to import fuel and denied having received material payments in exchange for security services. Key details: - The president stated on social media that there will be "no more oil or money" going from Venezuela to Cuba and suggested Cuba negotiate with the United States. - Shipping data indicate Venezuelan shipments to Cuba have stopped since the reported capture of Nicolás Maduro and an accompanying oil blockade. - Caracas and Washington are reported to be progressing on a US$2 billion deal to supply up to 50 million barrels of Venezuelan oil to the U.S., with proceeds to be deposited in U.S. Treasury-supervised accounts. - Cuba's foreign minister said Cuba may import fuel from any willing supplier and denied receiving material compensation for security-related services. Summary: The announcement increases pressure on Cuba's energy and diplomatic arrangements while talks between Caracas and Washington on a separate oil-for-funds deal continue. Undetermined at this time.