CARACAS - Venezuela removed eight tonnes of gold from the central bank’s vaults last week, and the cash-strapped socialist state is expected to sell the bullion abroad as it seeks to raise hard currency in the face of U.S. sanctions, a lawmaker and one government source said.
The government source said the central bank’s reserves had fallen by 30 tonnes since the start of the year before U.S. President Donald Trump tightened sanctions, leaving the bank with around 100 tonnes in its vaults, worth more than $4 billion. Asked to comment on the new removal of gold, a U.S. State Department spokesman said, “The United States condemns all attempts by Maduro and his supporters to steal resources from the Venezuelan people.”
Opposition lawmakers have blasted companies buying Venezuelan gold or holding it as collateral for loans, saying they are giving Maduro a financial lifeline during an economic and humanitarian crisis. “They moved gold out while the central bank was in contingency mode,” opposition lawmaker Angel Alvarado said, adding that the bars would be sold abroad, though he did not know the destination.Washington in January asked foreign gold buyers to stop doing business with the Venezuelan government. This prompted Venezuela to cancel a planned sale of 29 tonnes of gold to the United Arab Emirates.
Earlier this year, Abu Dhabi investment firm Noor Capital said it bought 3 tonnes of gold from Venezuela on Jan. 21, but would not buy more until the situation in the country stabilized.
Y continúa el desangramiento de Venezuela
It is headed to Russia 🇷🇺 or Switzerland 🇨🇭
Not 'Venezuela' but Chavismo, who had robbed Venezuelans since 1999.
And history is repeating itself.
For those keeping track that's $336,013,920. Let's see where it goes.
8 tons of gold...wonder where it'll end up? Allegedly Chavez' daughter has $3B somewhere out of country
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He’s sucking the country try
The Americans are coming, hide the Gold‼️
As gifts for the Russians?
aren't the west holding billions of their assets..theft?
They can move it straight into my bank account. Broke
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