limited

The licence follows a push from US President Donald Trump to open Venezuela’s resource sector to international investment.

The United States government has authorised a limited licence for the export of Venezuelan gold, following a high-level meeting to expand mining in the country.

On Friday, a notice appeared on the US Department of the Treasury’s website announcing the licence.

It allows Venezuela’s state-run mining company Minerven and its subsidiaries to export, transport and sell Venezuelan gold to the US, within the parameters set out under US law.

Under the licence, however, no Venezuelan gold will be permitted to be exchanged with Cuba, North Korea, Iran or Russia.

The licence also requires payments to sanctioned individuals to flow through Treasury accounts known as Foreign Government Deposit Funds, the same system that has been used to store the proceeds from Venezuelan oil sales.

Minerven and other state-owned industries have faced US sanctions for years, as a penalty for the push to nationalise Venezuela’s resources under former President Hugo Chavez.

But the US has been pushing for inroads into Venezuela’s oil and mining sectors since January 3, when it launched an operation to abduct and imprison the country’s then-president, Nicolas Maduro.

The January 3 military operation has been condemned as a violation of international law, and critics argue that US President Donald Trump has since sought to exploit Venezuela’s natural resources for his country’s gain.

Trump and his allies maintain that Venezuela’s oil resources were stolen from the US, citing the expropriation of assets from US businesses in 2007.

But international law guarantees that countries have permanent sovereignty over their own natural resources, which cannot be exploited by foreign powers without consent.

So far, the government of interim Venezuelan President Delcy Rodriguez has complied with Trump’s requests to surrender oil to the US and open the country’s oil and mining sectors to foreign investment.

Just this week, Rodriguez agreed to send a mining reform law to the country’s National Assembly, following a two-day visit from Trump’s Interior Secretary Doug Burgum.

And in late January, Rodriguez signed into law a separate reform that allowed for the expansion of private investment from abroad in Venezuela’s oil sector and lowered taxes on the industry.

Venezuela’s economy has struggled under tightening US sanctions and government mismanagement, forcing millions of citizens from the South American country to flee its borders over the last decade.

Proponents of the reforms say outside investment can help revive Venezuela’s ailing economy and fund upgrades to its outdated mining infrastructure.

On Friday, Venezuela’s central bank released its first inflation statistics since November 2024, showing that inflation skyrocketed to 475 percent in 2025, when the US placed an embargo on Venezuelan oil exports.

Gold production from Venezuela in 2025 amounted to nearly 9.5 tonnes, according to the government, and the country sits on some of the largest oil deposits in the world.

A NUMBER of airlines are starting to relaunch limited flights back to the UK from the Middle East.

Thousands of flights have been cancelled in recent days following the US-Iran conflict, which affected destinations such as Dubai and Doha.

This lead to the closure of both major airports and, being major flight hubs, resulted in hundreds of thousands of passengers stranded abroad.

While some parts of the airspace are still closed, some airlines have confirmed a few flights will start taking off.

Emirates, one of the worst affected airlines being based in Dubai, confirmed a “limited number of passenger repatriation and freighter flights” will take off today.

This includes seven flights to the UK, to London Heathrow, London Gatwick, Manchester and Edinburgh.

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However, they warned that this was for passengers with earlier bookings.

Otherwise the airline warned: “All scheduled Emirates flights to and from Dubai remain suspended until 12pm UAE time on March 4, due to airspace closures across the region. 

“Please do not go to the airport unless you have been notified directly by Emirates, or hold a confirmed booking for these flights.”

Virgin Atlantic has also launched relaunched flight from Dubai and Riyadh back to the UK.

They said: “Following our latest assessments and in line with guidance from international aviation authorities, some of our flights are now operating in the region.”

And Etihad confirmed that some repositioning and repatriation flights had taken.

But they also warned that flights were suspended until at least 2pm on March 5.

British Airways is yet to restart flights from the Middle East.

Qatar Airways confirmed flights from Doha are yet to relaunch, with another update to take place on Friday.

They confirmed: “Qatar Airways flight operations remain temporarily suspended due to the closure of Qatari airspace.

“Qatar Airways will resume operations once the Qatar Civil Aviation Authority announces the safe reopening of Qatari airspace.

“A further update will be provided on March 6 by 9am Doha time (6am UTC).”

Despite this, hundreds of thousands of people are still stranded abroad.

Tourists in destinations such as Thailand, Sri Lanka, Maldives and Bali are being forced to look at alternative routes home due to the ongoing Dubai and Doha closures.

The Sun’s Head of Travel answered all of your questions about any holidays you have planned.

We’ve also explained if you are covered by travel insurance if caught up in the chaos.