Trump-backed Venezuelan gold deal faces scrutiny over possible links to criminal groups - Anadolu Ajansı

Gold imported from Venezuela under a US-backed deal remains in warehouses as refiners seek assurances over its origin and possible links to criminal groups, according to a report published Monday.

The Trump administration opened the US market to Venezuelan gold in March as Washington expanded economic ties with Venezuela’s interim government led by Delcy Rodriguez.

The New York Times reported that Minerven, Venezuela’s state-owned gold mining company, reached an agreement with Trafigura, a global commodities trading company, to supply gold for the US market.

Trafigura agreed to purchase between 650 and 1,000 kilograms (1,433 and 2,205 pounds) of gold dore bars from Minerven. The gold was shipped to the US for refining and resale.

US refiners have declined to purchase some of the gold because they cannot certify that it was obtained without involvement from criminal groups, illegal mining or other illicit activities, according to the report.

Informal mining operations in southern Venezuela provide part of their gold production to the Tren de Guayana criminal group in exchange for protection, The New York Times reported.

A leader of one mining operation told the newspaper that about 20% of its gold production is given to the group.

The newspaper also reported that Trafigura purchased millions of dollars worth of gold before independent auditors inspected the mines involved in the agreement.

Trafigura said its due diligence process was ongoing. The company said audits of sites it had inspected found no evidence of human rights violations, conflict financing, illegal taxation, extortion or involvement by illegal actors.

The company plans to source gold from two industrial mines under military protection to reduce the risk of criminal groups entering the supply chain.

Minerven remains under US sanctions, while the Trump administration has authorized transactions involving Venezuelan gold as part of its broader policy toward Caracas.

The agreement comes as Washington seeks to expand economic ties with Venezuela and gain greater access to the country’s mineral resources.