Trump eased sanctions so U.S. companies can invest in Venezuelan mining sector
The Donald Trump administration softened some sanctions on Venezuela this Friday, March 27, for U.S. companies
TL;DR
- The Trump administration has eased sanctions on Venezuela to allow U.S. companies to invest in the mining sector, including gold.
- The new license permits negotiation and signing of contracts for new investments in mining, processing, refining, and joint ventures.
- Transactions with entities linked to Russia, Iran, North Korea, Cuba, and China are explicitly prohibited.
- This decision follows previous licenses for U.S. participation in Venezuela's oil and gold sectors.
- The move aligns with the recent formal restoration of diplomatic relations between the U.S. and Venezuela, broken since 2019.
- The U.S. claims oversight over Venezuela's interim government, which has complied with U.S. demands to open its oil and gold sectors.