Colombia Asked U.S. to Sanction Cartel Gold While Treasury Was Buying It
By
Justin Scheck
Even the toaster can't save this one.
Summary
Colombia's defense minister asked the Trump administration to impose financial sanctions on Colombia's illegal gold industry, which underwrites the Clan del Golfo drug cartel (designated as a terrorist group by the U.S.). However, the Treasury Department faced a conflict of interest because it had been purchasing gold that originated from these same illegal sources. The request highlights systemic failures at both ends of the illegal gold supply chain.
Key quotes
· 3 pulledCould the U.S. government place financial sanctions on Colombia's illegal gold industry?
Illicit gold mining underwrites the Clan del Golfo, a drug cartel that the U.S. government had designated as a terrorist group.
The request put the Treasury Department in an unusual situation: It had, for many years, been buying gold that originated with the
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