Venezuela sold about 14 tons of gold at 570 million dollars in two weeks

The Venezuelan authorities sold 13.7 tons of gold worth $ 570 million in two weeks, despite the sanctions of the United States. This was reported by Bloomberg, citing its sources.

According to them, Caracas sold about 9.7 tons of gold on May 10 and about 4 tons on May 13. The Agency does not indicate which countries have purchased the precious metal.

In total, since the beginning of April Venezuela has sold about 23 tons of gold. The gold and foreign exchange reserves of the Central Bank (CB) of the Bolivarian Republic amount to $ 7.9 billion now. The Agency noted this is the minimum figure for the last 29 years. One of the interlocutors of the Agency noted that the proceeds will be partially used to Finance imports through the foreign trade Department of the country.

On November 1, 2018, the President of the United States Donald Trump ordered to impose sanctions aimed at blocking the operations of Venezuela with its gold reserves. As stated in the decree issued by the press service of the White House, Washington intends to prevent the government of Maduro from “plundering the wealth” of the country.

Author: Flyn Braun
Graduated from Cambridge University. Previously, he worked in various diferent news media. Currently, it is a columnist of the us news section in the Free News editors.
Function: Editor