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BIZARRE: Trafigura - You Need To See This

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

This is not an everyday trade agreement.

We Got This Covered

Trump-Brokered Deal Sends Up to 1,000 Kg of Venezuelan Gold to U.S. Refineries

At current market prices, a kilogram of gold is valued at roughly $166,000, putting the potential value of the shipment in the hundreds of millions of dollars

Latin Times

Venezuela to sell up to 1,000 kg of gold to US markets in new deal: Report

Venezuela's Minerven has signed a multimillion-dollar contract with Trafigura to sell 650-1,000 kg of gold dore bars to the US. US Interior Secretary Doug Burgum facilitated the deal, which involves gold being sent to US refineries. This marks a significant tightening of commercial ties between the US and Venezuela.

The Times of India

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Scoop: Trump officials broker massive U.S.-Venezuela gold deal

The arrangement shows the tightening commercial bounds between Venezuela and the U.S.

Axios

Angola’s Lobito Corridor is being revived – but who stands to gain?

The Lobito Corridor is a massive infrastructure axis linking Angola’s shore on the west of Africa to the mineral-rich interior. Built in the first three decades of the 1900s to export cheap commodities to colonial Portugal, it later fell into disrepair. Its main railway was rebuilt during Angola’s post-war reconstruction.…

The Conversation

U.S. To lift Some Sanctions On Venezuela's Oil Industry As Trump Admin Oversees Sector: Report

The U.S. is set to lift some sanctions on Venezuela's oil industry as the Trump administration continues to take steps to control the country's sector following the capture of authoritarian President Nicolas Maduro, according to a new report.

Latin Times

Marco Rubio Reportedly Granted Last Word On Revenue From Venezuelan Oil Sales, Sidelining Regime

Secretary of State Marco Rubio has been given the last word on the use of the revenue from Venezuela's oil sales as the Trump administration oversees the country's industry following the capture of authoritarian President Nicolas Maduro, according to a new report.

Latin Times

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Indian Refiners Shut Out of Venezuelan Crude as U.S. Absorbs Most Volumes: 'Offers Are Not There'

Indian oil refiners are receiving only limited offers of Venezuelan crude as most available supply is being directed to the United States following Washington's takeover of Venezuelan oil sales after the capture of former president Nicolás Maduro.

Latin Times

First Venezuelan Oil Sale Under Trump Plan Went to Major Campaign Donor's Firm

The first U.S.-brokered sale of Venezuelan crude under President Donald Trump's new energy plan went to Vitol, a global oil trading firm whose senior U.S.-based trader has been a major donor to Trump's re-election campaign.

International Business Times

‘Loophole’ in sanctions allowing Russian oil to be imported to Australia through port part-owned by Macquarie Bank

Australia stopped buying fuel directly from Russia after its invasion of Ukraine but has imported more than 3m tonnes of its oil products since 2023

The Guardian - AU

Away from Brazil’s ‘forest’ Cop30 – the fate of the Congo Rainforest hangs in the balance

IN FOCUS: The Democratic Republic of Congo government has opened bids for oil and gas drilling across huge swathes of the country, raising fears that the world’s last great rainforest carbon sink could be destroyed, Nick Ferris reports

The Independent UK

America's Coming Resource Crunch

The United States is facing a collision of two crises: China's tightening control over the minerals that fuel modern industry and America's exploding electricity demand from artificial intelligence. One is geopolitical, the other domestic, yet together they threaten to test the nation's economic and energy resilience in profound ways.

International Business Times

Superinjunctions: The draconian court-issued gagging orders used to keep information secret

For almost two years, an unprecedented order has kept a catastrophic government data breach secret

The Independent UK

The smallest country on the Southeast Asia 500 generated the most revenue

Total revenue from Singapore-based companies reached $637 billion, or about the third of the list's total revenue.

Fortune

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The Conversation

Could you accidentally sign a contract by texting an emoji? Here’s what the law says

Could someone take you to court over an agreement you made – or at least appeared to make – by sending a “👍”?

International Business Times

Swiss Court Convicts Trafigura Of Corruption In Angola

A Swiss court convicted Trafigura and three people linked to the commodities trading firm of corruption in Angola, in what campaigners hailed Friday as a "historic" first in Switzerland.

The Independent UK

Swiss criminal court convicts commodities firm Trafigura in Angola bribery case

Switzerland’s top criminal court convicted a multinational company for the first time, ruling against commodities trader Trafigura in a case of bribery linked to lucrative oil industry contracts in Angola

The Independent UK

Commodities firm Trafigura goes on Swiss trial over alleged bribes paid to win Angola oil contract

For the first time in Switzerland, a multinational company faces a criminal trial on charges of bribing a foreign public official, with alleged payments totaling about $5 million, to win lucrative oil industry contracts in Angola

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France 24

Victims of toxic waste dump in Ivory Coast still seeking justice

It's an environmental tragedy with ongoing consequences in Ivory Coast. Back in 2006, the company Trafigura wanted to get rid of 500 cubic metres of toxic waste from the refining of petroleum products stored on its cargo ship Probo Koala. After three countries refused the ship, it finally unloaded its…

Fortune

Introducing Fortune’s first-ever Southeast Asia 500: Firms that mine stuff, make stuff, and move stuff dominate

The inaugural Southeast Asia 500 looks a lot like the first version of the Fortune 500 from 1955: Oil, commodities, and industry dominate.

Barchart

Here's How to Buy the Dip in Copper Prices

Copper prices have been surging due to supply disruptions and strong demand from industries like AI and electric vehicles, with analysts predicting a long-term bull market. The United States Copper Index Fund offers a way for investors to capitalize on copper's growth story.

International Business Times

Deal Signed To Export DR Congo Copper Via US-backed Corridor

Two firms, Singapore-based Trafigura and Canada's Ivanhoe Mines, signed a major deal on Wednesday to export copper along a US-backed rail route from the Democratic Republic of Congo.

The Guardian - UK

Amazon’s iRobot takeover collapses amid EU opposition; Flutter could move primary listing to New York – as it happened

Rolling coverage of the latest economic and financial news, as iRobot announces hundreds of job losses after takeover by Amazon is scrapped

Evening Standard

UK 'as committed as ever' to protecting Red Sea shipping after Houthi attack on tanker, says Grant Shapps

British-linked oil tanker Marlin Luanda went up in flames after an attack by Houthi rebels

Evening Standard

Fire on British-linked ship put out after Houthi strike in Gulf of Aden

The UK and its allies ‘reserve the right to respond appropriately’ following the latest attack claimed by the Iran-backed group, the Government said.

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