The Trump Administration Negotiates a Multimillion-Dollar Gold Deal with Venezuela
Officials from Donald Trump's Administration are negotiating a multimillion-dollar deal with the Venezuelan state mining company Minerven to sell up to a ton of gold to the U.S. market, amid growing economic cooperation between the two countries.
TL;DR
- U.S. officials are negotiating a deal with Venezuela's Minerven for up to one ton of gold valued at approximately $165 million.
- The gold would be supplied to Trafigura for transport to U.S. refineries.
- U.S. Secretary of the Interior Doug Burgum met with Venezuelan interim president Delcy Rodríguez to discuss oil and mining opportunities.
- Venezuela announced reforms to its mining laws following the meeting.
- The U.S. officially reopened its embassy in Caracas on February 1st.
- PDVSA announced new contracts to supply oil to the U.S. market as sanctions have been reduced.
- President Trump praised the growing commercial relations, stating 'Oil is starting to flow'.