Refiners Refuse Venezuelan Gold Imports Over Illicit Financing Rules, Stalling Trump Plan

Hundreds of millions of dollars in Venezuelan gold imported into the United States remains immobilized in storage facilities as refiners refuse to process the metal. Refiners accredited by the London Bullion Market Association cited compliance risks, potential loss of accreditation, and responsible-sourcing standards. The bottleneck follows an initiative by the Trump administration to ease mining sanctions and monetize the assets through commodities trader Trafigura and Venezuelan state miner Minerven. However, investigations revealed local miners on Minerven concessions paid protection money to criminal syndicates including the Tren de Guayana gang, leaving shipments unsold and unrefined.