Trump administration opens Venezuela gold imports after Maduro ouster

September 29, 2026 at 12:30 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The Trump administration has allowed U.S. businesses to import Venezuelan gold following the ouster of President Nicolas Maduro. Trafigura received a one-year right to buy and export gold from several industrial mines, with a first shipment valued at $100 million arriving on March 5. The New York Times reports that some gold may be linked to criminal groups that charge miners for protection.

Key Facts

Trafigura received a one-year right to buy and export gold from several industrial underground mines in Venezuela in partnership with state-owned Minerven.
The first shipment of Venezuelan gold arrived in the U.S. on March 5, valued at $100 million according to Interior Secretary Doug Burgum.
At least ten mine owners told The New York Times that gold supplied by Trafigura may have been mined with the involvement of the Tren de Guayana gang.
Trafigura hired an auditor and risk consultant only after purchasing millions of dollars of uncertified gold.
Heeney Capital and Mercuria agreed to organize gold mining and export from the El Choco deposit, which is linked to higher corruption and organized crime risks.

Policy Shift

The Trump administration opened access to Venezuelan gold for U.S. businesses after the ouster of President Nicolas Maduro. Traders were allowed to import gold from Venezuela despite persistent links to corruption and criminal groups in the industry. The policy change was announced the same day Trafigura executives presented ten Venezuelan gold bars at the White House.

Trafigura Deal

Trafigura partnered with state-owned Minerven to secure a one-year right to purchase and export gold from several industrial underground mines. The first shipment arrived in the U.S. on March 5, valued at $100 million according to Interior Secretary Doug Burgum. At least ten mine owners told The New York Times that Trafigura's supplies may have included gold mined with the involvement of the Tren de Guayana gang. Trafigura hired an auditor and risk consultant only after purchasing millions of dollars of uncertified gold.

Criminal Links

Some Venezuelan gold is linked to miners who pay criminal groups for protection, allowing criminals to profit from the U.S. administration's deal. On some mines, a practice exists of handing over part of the mined gold to gangs. Heeney Capital and Mercuria agreed to organize gold mining and export from the El Choco deposit, which is linked to higher corruption and organized crime risks.