As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by NYPost.com:
Venezuelan President Nicolás Maduro is preparing to sell a large portion of his country’s gold reserves for cash in a desperate attempt to keep his failing regime solvent, according to a report.
Fifteen tons of high-quality gold were to be sold to the United Arab Emirates in coming days in return for euros as part of a deal to sell a total of 29 tons to the UAE, a senior official in Caracas told Reuters.
The article goes on to state the following:
This year’s sale of gold reserves that back the bolivar currency began with a shipment on Jan. 26 of 3 tons and follows the export last year of $900 million of mostly unrefined gold to Turkey, said the official, who requested anonymity.
Venezuela had reserves of 132 tons between the central bank’s vaults and the Bank of England at the end of November, according to central bank data.
The hard-left dictator resorted to selling off gold after falling oil production, the country’s wider economic collapse and mounting US sanctions hit public income and made it difficult for the country to access credit.
Maduro is raiding the gold reserves of #Venezuela to generate cash. He has already stolen at least 10% of total reserves in the last week.
I hope the UAE & Turkey will not be accomplices in this outrageous crime.
Any any companies that are involved will face U.S. sanctions.
— Marco Rubio (@marcorubio) February 1, 2019
Not only does Maduro require foreign paramilitary support to keep remaining threads of a failed dictatorship, but reports show he is flying out Venezuelan assets by the plane full. Is he stealing resources from the people to pay for Russian intervention? https://t.co/tGPrqUcWOp
— John Bolton (@AmbJohnBolton) February 1, 2019
Exclusive: The Bank of England has denied Maduro’s request to bring back $1.2 billion from its vaults, following requests from U.S. officials Pompeo and Bolton https://t.co/57WI0mDa61
— Patricia Laya (@PattyLaya) January 25, 2019
Astonishing: Maduro sells one fifth of his country’s entire gold reserves to the UAE. https://t.co/brzuHrWwqK
— David Byers (@davidbyers26) February 1, 2019
— Fercan Yalinkilic (@FercanY) January 30, 2019
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