Bangladesh, Oct. 2 -- Six months after the United States moved to reopen a channel for Venezuelan gold imports, a major shipment purchased under the new arrangement remains in storage, raising questions about the practical challenges of rebuilding a trade that was shut down for years by sanctions and concerns over illegal mining.

Commodities giant Trafigura, which became the first major international company to take advantage of Washington's easing of restrictions on Venezuelan gold in March, confirmed that the gold it has purchased remains under its control in a warehouse. The development highlights the difficulties of moving Venezuelan bullion from mines in the country's remote south into international markets while satisfying US requ...