US grants limited license for Venezuelan gold imports after high-level visit

US Authorizes Limited Licence for Export of Venezuelan Gold

The US Department of the Treasury has issued a notice announcing a limited licence for the export of Venezuelan gold. The licence allows Minerven, Venezuela’s state-run mining company and its subsidiaries, to export, transport, and sell Venezuelan gold to the US within specified parameters.

Under the terms of the licence, no Venezuelan gold will be permitted to be exchanged with Cuba, North Korea, Iran, or Russia. Additionally, payments from sanctioned individuals must flow through Treasury accounts known as Foreign Government Deposit Funds.

This development follows a high-level meeting between US officials and Venezuelan authorities, which aimed to expand mining in the country. The licence is part of a broader effort by the US government to engage with Venezuela’s resource sector and promote foreign investment.

The licence was issued following a series of events, including the January 3 military operation that led to the abduction and imprisonment of former President Nicolas Maduro. Since then, the US has been pushing for inroads into Venezuela’s oil and mining sectors.

Venezuela’s government has agreed to comply with US requests to surrender oil to the country and open its oil and mining sectors to foreign investment. The country’s interim president, Delcy Rodriguez, has signed several reform laws aimed at promoting private investment and reviving the economy.

The licence is seen as a step towards revitalizing Venezuela’s economy, which has struggled under tightening US sanctions and government mismanagement. Gold production from Venezuela in 2025 was nearly 9.5 tonnes, according to the government, and the country sits on some of the largest oil deposits in the world.

Source: Al Jazeera