Scoop: Trump officials broker massive U.S.-Venezuela gold deal

"The contract calls for 98% final gold content, the source said. Trafigura will shepherd the gold to U.S. refineries under a separate arrangement with the U.S. government, that source said. U.S. Interior Secretary Doug Burgum, who arrived in Venezuela Wednesday to discuss oil and mineral opportunities, helped shepherd the gold contract."

"This contract is the third extraction deal made under the Trump administration's supervision as the U.S. has taken control of Venezuela's most crucial and abundant resource, oil. 'The oil is beginning to flow, and the professionalism and dedication between both countries is a very nice thing to see!' Trump posted Wednesday on Truth Social."

"The U.S. ouster of Nicolas Maduro on Jan. 3 and its subsequent control of Venezuela's resources has drawn criticism from congressional Democrats and liberals, who accuse Trump's administration of imperialism and corruption. But one of the sources familiar with the gold and oil deals said they benefit Venezuela more now because the country has access to U.S. markets and a stable financial system."

Venezuela's state-owned Minerven company has contracted with commodities trader Trafigura to supply 650 to 1,000 kilos of Gold Dore bars with 98% final gold content. Trafigura will transport the gold to U.S. refineries under a separate U.S. government arrangement. U.S. Interior Secretary Doug Burgum facilitated this contract during his visit to Venezuela. At current market rates of approximately $166,000 per kilogram of pure gold, this represents a significant transaction. This gold deal represents the third extraction agreement under Trump administration oversight as the U.S. has gained control of Venezuela's resources. Supporters argue the arrangement benefits Venezuela by providing access to U.S. markets and stable financial systems while reducing corruption from black-market smuggling.

Read at Axios