WASHINGTON. – President Donald Trump’s Administration this Friday eased some sanctions on Venezuela so that American companies can sign contracts and invest in the South American country’s mining sector, including gold.
The decision adds to the several licenses that the US Treasury Department has issued in recent weeks to facilitate the participation of US companies in Venezuela’s oil and gold sectors.
The new license allows negotiating and signing contracts, under some conditions, related to new investments in the mining sector, including gold, an industry that was sanctioned by Washington.
Businesses may include mining, mineral processing and refining, and joint ventures.
Prohibition
The authorization explicitly prohibits transactions with people or entities linked to Russia, Iran, North Korea, Cuba and China.
Since the capture of the deposed dictator Nicolás Maduro by US forces on January 3 in Caracas, the Trump Administration and the leader of the Venezuelan regime, Delcy Rodríguez, have brought closer positions and in early March they formally reestablished diplomatic relations between both countries, broken since 2019.
According to Trump, the United States exercises tutelage over the interim mandate of Rodriguez, who has complied with Washington’s demands to open Venezuela’s oil and gold sector to American companies.
Last Tuesday, the Trump Administration relaxed sanctions to facilitate the upcoming reopening of the Venezuelan embassy in the United States.
