Summary
The United States has granted a limited licence for the export of Venezuelan gold to the US following talks about expanding mining in Venezuela. This licence allows Venezuela's state mining company to sell gold to the US but prohibits exchange with specific countries. The licence aims to navigate existing US sanctions and involves payments through US Treasury systems.
Key Facts
- The US issued a limited licence for Venezuelan gold exports to the US.
- The announcement was made by the US Department of the Treasury.
- Venezuela's state-run mining company Minerven and its subsidiaries can export and sell gold under this licence.
- The licence bans gold exchanges with Cuba, North Korea, Iran, and Russia.
- Payments must go through US Treasury accounts known as Foreign Government Deposit Funds.
- Venezuela has faced US sanctions on its state industries due to past nationalization efforts.
- The US has pursued involvement in Venezuela's oil and mining sectors since early January.
- Venezuela's current interim government is working with the US on oil and mining sector reforms.
