President commits to doing more to stem gold smuggling by Venezuela through Guyana

President Irfaan Ali has assured the Government of the United States that his Administration will put “enormous resources” into the fight to combat illicit gold smuggling, amid a stern warning from the US about the threat of gold smuggling involving Venezuela.

The President gave the assurance while delivering an address at the US Embassy’s 4th July celebration on Friday night at the home of the US Ambassador.

According to the President, the US reminded all of its partners, including Guyana, about the serious threat of gold smuggling posed by Venezuela.

“We have received that advisory today, and we want you to know that we are putting enormous resources into ensuring that the threat of illicit gold smuggling that could help to empower or safeguard undemocratic forces are uprooted, are uprooted with our partnership,” the President said.

President Ali said through the Bureau of International Narcotics and Law Enforcement Affairs, the US has initiated a number of initiatives to enhance law enforcement and security cooperation with Guyana and the other countries within the Caribbean region.

It was noted that the signing of the Memorandum of Understanding (MoU) in March, 2025 during the visit of US Secretary of State, underscores the joint commitment by both Guyana and the US to address common security challenges.

“The MOU builds on our long-standing partnership and aims to deepen collaboration in areas such as counter narcotics and the fight against transnational organized crime and strengthening security and defense cooperation,” President Ali said.

US Ambassador, Nicole Theriot, in her address, said military and security cooperation between Guyana and the US has been stronger than ever. She said the visit by Secretary Rubio was clear proof of the strength of their cooperation and the mutual commitment to their shared security.

“This year we’ve expanded our law enforcement partnership as well, with knowledge exchanges and joint activities involving the NYPD, FBI, and DEA working hand-in-hand with the GDF, GPF, CANU, and SOCU. Our agencies work incredibly well together, highlighted by the DEA-CANU seizure of thousands of kilos of illegal drugs in August. Joint operations like these strengthen our collective security and make Guyana a regional leader and a stabilizing force in South America and the Caribbean,” the US Ambassador said.

In its 2025 International Narcotics Control Strategy Report, the US said gold smuggling in Guyana often facilitates money laundering, as criminals use illegal gold sales to disguise illicit funds, bypassing regulations.

It noted that in the mining sector, money laundering methods include large cash deposits using forged agreements of sale for nonexistent precious minerals as well as cross-border transport of concealed precious metals to avoid payment of the relevant taxes and duties.

In July 2024, SOCU charged four persons with money laundering for attempting to smuggle approximately 240 ounces of virtually pure gold (valued at over $560,000) disguised as silver-plated jewelry without having the necessary permits. The prosecution is ongoing.

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