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Home>GoldWire>Venezuela sells another $570 million in gold despite sanctions

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Venezuela sells another $570 million in gold despite sanctions

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Chris Powell

GATA

Published : May 18th, 2019

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	Venezuela sold about $570 million in gold from central bank reserves over the past two weeks, skirting U.S. Treasury sanctions designed to freeze assets of the Nicolas Maduro administration, according to people with knowledge of the matter. Caracas sold about 9.7 tons of gold on May 10 and an additional 4 tons three days after, the people said. The operations helped the bank's total reserves to fall to a 29-year low of $7.9 billion, according to data provided by the monetary authority. The proceeds will be partly used to fund imports through the country's foreign trade office, according to one of the people. ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2019-...-sells-570-m...

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Chris Powell 13 abonnés

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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