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Venezuela Sells $570M From Gold Reserve Despite Sanctions -- Puppet Masters -

by sott.net posted 1month ago 32 views
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's administration, according to people with knowledge of the matter. The central bank sold about 9.7 tons of gold on May 10 and an additional 4 tons three days after, the people said, driving its reserves down to a 29-year low of $7.9 billion. The proceeds will be partly used to fund imports through the country's foreign trade office, according to one of the people.

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