
President Dr. Irfaan Ali has pledged swift action to stop Venezuelan gold from being smuggled into Guyana, following a stern warning from the United States government about the national and regional threat this illicit trade poses.
The issue came into sharp focus on Friday evening during a reception hosted by the U.S. Embassy in Georgetown, marking the 249th anniversary of American independence. Addressing the gathering, President Ali revealed that Guyana had received a formal advisory from Washington earlier that day, flagging the risk that smuggled gold could be used to bankroll the regime of Nicolás Maduro in Venezuela.
“Only today, the U.S. reminded all its partners about the serious threat from Venezuela as it relates to gold smuggling,” Ali told the audience. “We want you to know that we are putting enormous resources into ensuring that the threat of illicit gold smuggling—especially when it has the potential to empower undemocratic forces—is uprooted with our partnership.”
For years, Guyanese authorities have quietly suspected that Venezuela has been using Guyana as a laundering ground for illegally mined gold, funnelling it through local networks to give it the appearance of legitimacy. These concerns have grown louder in recent months, especially following a wave of crackdowns on foreign nationals tied to unlawful mining and smuggling operations.
The renewed urgency follows a series of sweeping U.S. sanctions in mid-2024 targeting prominent Guyanese businessmen Nazar and Azruddin Mohamed. Their companies—Mohamed’s Enterprise, its subsidiary Hadi’s World, and Team Mohamed’s Racing Team—were blacklisted by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). The sanctions were imposed after findings showed the firms had smuggled an estimated 10,000 kilograms of gold out of Guyana between 2019 and 2023, dodging more than US$50 million in duty taxes.
In response, the Guyanese government formally requested supporting documentation from the U.S. to begin its own probe. By March of this year, local authorities, including the Guyana Police Force and the Guyana Revenue Authority, confirmed they had received a “sufficient volume” of evidence to proceed with legal action.
President Ali emphasized that tackling transnational crime requires strong cooperation between governments. He highlighted that Guyana’s ongoing partnership with the U.S. Bureau of International Narcotics and Law Enforcement Affairs has already helped improve local law enforcement capacity.
He also pointed to a significant step taken in March 2025, when U.S. Secretary of State Marco Rubio visited Guyana and signed a Memorandum of Understanding (MOU) with the government. The agreement, Ali noted, represents a deepening of security and law enforcement cooperation between Georgetown and Washington.
“The MOU builds on our long-standing partnership and aims to deepen collaboration in areas such as counter-narcotics, the fight against transnational organised crime, and strengthening security and defence cooperation,” he said.
For many Guyanese, the stakes are more than geopolitical. The gold sector plays a major role in the national economy, and its integrity is vital for the country’s global reputation and financial health. With this renewed commitment from the highest levels of government, citizens will be watching closely to see whether these promises will translate into decisive, sustained action.