Venezuelan gold moves again: United States transfers US$100 million in an unprecedented move in two decades
This precious metal will be destined for productive projects on North American soil. Photo: iStock
TL;DR
- The U.S. transferred $100 million in gold from Venezuela, the first such movement in over 20 years.
- The gold is designated for industrial investment in the United States.
- The transfer followed a meeting between Secretary Doug Burgum and Venezuelan interim president Delcy Rodríguez.
- Burgum described Venezuela's mining industry as "collapsed" but noted government willingness to modernize and attract foreign investment.
- The move aligns with the resumption of U.S. Embassy operations in Caracas and a broader U.S. strategy to engage in Venezuela's energy and mining sectors.
- Internal political changes in Venezuela, including the capture of Nicolás Maduro, have led to increased alignment between Caracas and Washington on economic matters.