The Trump administration moved quickly to open Venezuela’s gold industry to U.S.-linked companies after Maduro was removed from power, arguing that the deals would redirect gold away from criminals and U.S. adversaries.

But a New York Times investigation found that hundreds of millions of dollars’ worth of Venezuelan gold is now sitting in U.S. warehouses because refiners are unwilling to certify that it is free from criminal financing, corruption and environmental abuses.

The Times found that some gold entering the supply chain was linked to miners who pay protection money to the Tren de Guayana gang. Another U.S.-backed investor, Heeney Capital, has taken over operations at the El Chocó mine, where contractors have also reportedly paid gang protection money.

Source: NYT