The U.S. just seized 1,000 kilos of Venezuelan gold — and the deal comes with a twist

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.

U.S. Interior Secretary Doug Burgum played a key role in pushing this contract through during his visit to Venezuela, where he discussed oil and mineral opportunities. After meeting with Burgum, Venezuela’s interim president Delcy Rodriguez announced plans to reform the country’s mining laws.

The US is now taking direct control of Venezuela’s most valuable resources

This gold contract is the third extraction deal made under the Trump administration’s supervision. The U.S. has also taken control of Venezuela’s oil sector, with Trafigura involved in oil contracts worth more than $1 billion. 

The Trump administration has also warned Congress it may use force if Venezuela fails to deliver the agreed 50 million barrels of oil. President Trump expressed his satisfaction on Truth Social, posting, “The oil is beginning to flow, and the professionalism and dedication between both countries is a very nice thing to see!” He also praised Venezuela’s acting president, Delcy Rodriguez.

Congressional Democrats and liberals have accused the Trump administration of imperialism and corruption following the U.S. ouster of Nicolas Maduro on January 3 and the subsequent control of Venezuela’s resources. The administration has faced a string of controversies lately, and observers have been tracking the White House’s efforts to manage political missteps as criticism mounts. However, sources familiar with the gold and oil deals offer a different view.

These sources argue that the arrangements actually benefit Venezuela more now, because the country gains access to U.S. markets and a far more stable financial system. Before this, corruption was widespread, with black-market smugglers taking cuts and gold often ending up in places like Turkey or Iran.

Now, the money from Venezuela’s resources is intended to go directly to Venezuela’s government and its people, rather than being lost to smugglers or foreign intermediaries. The gold itself is also coming straight to the U.S., marking a clear shift from how things used to work. Whether critics or supporters, both sides agree that these deals represent a major change in how Venezuela’s vast natural resources are being managed and traded on the world stage.