Trump softens sanctions so that US companies can invest in Venezuelan mining sector
The Donald Trump administration softened some sanctions on Venezuela this Friday so that American companies can sign contracts and invest in the South American country's mining sector, including gold. EFE The decision adds to several licenses issued by the US Treasury Department in recent weeks to facilitate the participation of US companies in Venezuela's oil and gold sectors. […]
TL;DR
- US sanctions on Venezuela have been softened to permit American companies to invest in the mining sector, including gold.
- This move allows for contract negotiation and signing related to new mining investments, processing, refining, and joint ventures.
- Transactions with entities linked to Russia, Iran, North Korea, Cuba, and China are explicitly prohibited.
- The decision is part of a series of recent licenses easing restrictions on U.S. involvement in Venezuela's oil and gold industries.
- Diplomatic relations between the U.S. and Venezuela were formally re-established in March, following initial steps to relax sanctions.