Venezuela‘s state-owned mining company has signed a deal to sell up to 1,000 kilograms of gold, with the gold heading straight to U.S. markets. This deal highlights the growing commercial ties between Venezuela and the U.S., following President Trump‘s ouster of the country’s socialist dictator and his effective control over Venezuela’s state oil company.
Under the deal, Venezuela’s state-owned company, Minerven, will supply between 650 and 1,000 kilograms of Gold Dore bars to commodities trader Trafigura. According to Axios, the gold has a 98% final content, and Trafigura will ship it to U.S. refineries under a separate agreement with the U.S. government. With one kilogram of pure gold currently valued at around $166,000, the deal is worth a significant sum.
