US issues limited licence for Venezuelan gold following high-level visit
Al Jazeera
The licence follows a push from US President Donald Trump to open Venezuela’s resource sector to international investment.
The United States government has authorised a limited licence for the export of Venezuelan gold, following a high-level meeting to expand mining in the country.
On Friday, a notice appeared on the US Department of the Treasury’s website announcing the licence.
It allows Venezuela’s state-run mining company Minerven and its subsidiaries to export, transport and sell Venezuelan gold to the US, within the parameters set out under US law.
Under the licence, however, no Venezuelan gold will be permitted to be exchanged with Cuba, North Korea, Iran or Russia.
The licence also requires payments to sanctioned individuals to flow through Treasury accounts known as Foreign Government Deposit Funds, the same system that has been used to store the proceeds from Venezuelan oil sales.
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