Published：Mar 5, 03:31Last updated：Mar 8, 18:14

US Eases Sanctions for Venezuelan Gold Trade

Mar. 5, 2026 03:31

On March 5, 2026, media outlets reported that a Venezuelan gold mining company, Minerven, has reached an agreement to sell up to a ton of gold in the United States. The deal was reported by RIA Novosti, citing Axios, and involves the international trading firm Trafigura amidst ongoing sanctions and economic measures.

Summarized

10News

7Media

Mar. 8, 2026 17:54

US Secretary of the Interior, Dag Burgum, announced on March 8, 2026, that the United States has exported gold worth 100 million dollars from Venezuela. The statement is part of broader economic and geopolitical tensions. The article includes images related to the gold export.

Mar. 8, 2026 18:14

US Secretary of the Interior Douglas Bergman announced that the United States received gold valued at $100 million from Venezuela. The statement was made on March 8, 2026.

In early March 2026, the United States took significant steps to relax sanctions on Venezuela’s gold sector, enabling the export and sale of Venezuelan gold through US markets. This move, involving Venezuela’s state mining company Minerven and international trader Trafigura, marks a notable shift in US economic policy toward Caracas. The Trump administration’s decision comes amid Venezuela’s severe dollar shortages, a consequence of longstanding restrictions on oil exports, and aims to provide the South American nation with critical financial relief. The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) played a central role, issuing a general license that sets strict conditions for these transactions, reflecting a balance between economic engagement and ongoing controls. RIA Novosti+2

🏦 Background of US-Venezuela Gold Deal

The agreement allows Minerven to sell up to 1,000 kilograms (one ton) of gold to US markets, with Trafigura acting as a key intermediary. The Trump administration facilitated these negotiations, signaling a pragmatic approach to Venezuela’s economic crisis. The deal is part of broader efforts to address Venezuela’s liquidity issues caused by US sanctions on its oil sector. Bloomberg+2

📜 Regulatory Framework and License Conditions

On March 6, 2026, OFAC issued a general license permitting certain US entities to engage in transactions related to Venezuelan gold. The license mandates compliance with US law, requires proceeds to be deposited into US-controlled accounts, and prohibits activities such as debt swaps, use of Venezuelan digital currencies, and dealings with sanctioned countries or vessels. This regulatory framework aims to ensure transparency and limit potential misuse. CCTV+1

💰 Economic and Geopolitical Implications

US Secretary of the Interior, Dag Burgum, announced that the US received Venezuelan gold valued at $100 million. The easing of sanctions is expected to provide Venezuela with much-needed hard currency, potentially stabilizing its economy. However, the move also reflects shifting geopolitical calculations, as the US seeks leverage in ongoing negotiations with Caracas while maintaining oversight on financial flows. RIA Novosti+1

CaracasMinervenTrafiguraDonald TrumpUS Department of the Treasury