According to an investigation by The New York Times, Venezuelan gold that Donald Trump’s administration brought to the US is sitting in warehouses because no refiner will process it.

In early March, the president looked approvingly at the 10 Venezuelan gold bars stacked in the Roosevelt Room, across from the Oval Office, White House officials recalled. On the same day the bars arrived, the administration issued a policy allowing the import of Venezuelan gold, with the first supplies coming from a state-owned mining company that the US still designated as a national security threat. All that gold — hundreds of millions of dollars’ worth — sits untouched in warehouses, according to three people with knowledge of the shipments.