Thursday, March 4, 2021

Mali And The Emirates Are Helping Venezuela Sell Its Gold Reserves

FILE PHOTO: Venezuela's President Nicolas Maduro touches a gold bar as he speaks during a meeting with the ministers responsible for the economic sector at Miraflores Palace in Caracas, Venezuela March 22, 2018. REUTERS/Marco Bello 

CARACAS (Reuters) - Venezuela sent gold to Mali in 2020 via Russian-owned planes to exchange for euros and U.S. dollars that President Nicolas Maduro’s government used to remain afloat despite U.S. sanctions, an opposition representative said on Wednesday. 

Julio Borges, designated by opposition leader Juan Guaido as his chief overseas envoy, told reporters that the gold was refined in Mali and then resold primarily in the United Arab Emirates (UAE) to allow for Maduro’s administration to obtain the equivalent of at least $1 billion in euros in particular. 

WNU Editor: The gold reserves are dropping fast .... Venezuela gold reserves drop to new five-decade low as withdrawals accelerate (Reuters).

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