Trump Administration Authorizes Sale of Venezuelan Gold Through U.S. Companies

The administration of U.S. President Donald Trump issued a license on Friday allowing the sale of certain Venezuelan gold through companies operating in the United States, as Washington moves to expand its access to the South American country’s vast mineral resources.

According to Agence France-Presse, the license issued by the U.S. Department of the Treasury authorizes specific activities related to the sale, storage, or transportation of gold of Venezuelan origin for the purpose of exporting it to the United States.

The authorization also permits transactions associated with refining the gold in the United States, the world’s largest economy, as well as its resale or re-export through a U.S. entity.

The announcement comes shortly after a two-day visit to Venezuela by U.S. Interior Secretary Doug Burgum, at a time when both countries say they are working toward restoring diplomatic relations.

These developments signal an improvement in relations following Washington’s ousting of Venezuelan President Nicolás Maduro in January.

During his visit, Burgum held talks with Venezuela’s acting president Delcy Rodríguez, noting that dozens of companies had expressed interest in investing in the country.

The Trump administration says it is effectively overseeing Venezuela and its vast natural resources following Maduro’s removal from power.

Burgum is the second senior U.S. official to visit the country since the swift operation carried out by U.S. special forces on January 3, which left about 100 people dead and resulted in the arrest of Maduro and his wife. They were transferred to New York to face multiple charges, including drug trafficking.

In addition to oil, Venezuela is rich in minerals such as gold and diamonds, as well as bauxite, coltan, and other rare materials used in the manufacture of computers and mobile phones.