Article

2019-02-01 Caribbean-Latin America

Venezuela will sell 15 tons of gold to the United Arab Emirates in exchange for euros in cash

[ELUNIVERSAL] The Central Bank of Venezuela (BCV) expects to sell 15 tons of gold from its reserves to the United Arab Emirates in the next few days, in exchange for euros in cash to finance its imports, said a Venezuelan government source familiar with the movements. .

According to an article published by Rooters - quoted by an official source - the issuing institute already made a first shipment of about three tons of gold to that nation on a charter flight from the company Solar Cargo that departed on January 26.

"The sales of bullion are almost the only alternative that the Government of Nicolás Maduro has to obtain liquidity, given the decline in oil revenues and the closure of almost all international financing options for the sanctions imposed by the United States," he said. the news agency.

Likewise, he said that in February a third shipment of 11 tons of monetary gold is contemplated. He added that if it is completed, the Government will have sold 29 tons in two months and reduced Venezuelan international reserves, which are in maximum purity ingots, to eight-year minimums, according to BCV data.

Rooters indicated that the monetary authority did not respond to a request for information and the UAE embassy in Bogota also did not respond to an email.

The US government has warned bankers, operators and global companies to avoid negotiating with the Maduro government for gold sales, and has imposed sanctions on Venezuelan state oil company Pdvsa to limit its purchases and sales of crude in the United States.

Posted by Fred 2019-02-01 00:00|| || Front Page|| [11132 views ] Top
File under: Commies

#1 Dear Mr. Maduro - we're counting on you to do the right thing here.

Posted by Raj 2019-02-01 08:50|| 2019-02-01 08:50|| Front Page Top

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