Axios: Venezuela to deliver one ton of gold to United States

Venezuelan state mining company Minerven has agreed to supply between 650 kg and 1,000 kg of gold to the trading firm Trafigura, which will then transfer the metal to U.S. refineries. According to Axios, the deal was concluded on March 2 but has not been officially announced.

Under the contract, the final gold content in the bars must reach 98% purity. The agreement was reportedly facilitated by U.S. Interior Secretary Doug Burgum, who is currently on a visit to Venezuela. Trafigura had previously also acted as an intermediary in the sale of Venezuelan oil to the United States under contracts totalling more than $1 billion.

Sources in the U.S. government told Axios that the gold deal is beneficial for Venezuela, where corruption linked to black-market smugglers previously flourished.

As for U.S. interests, the sources noted that gold, which previously went to Türkiye or Iran, will now be shipped to the United States.