Gold Reserve says Venezuela Payments on $1 Billion Expropriation Stuck by Sanctions in Caracas

The sanctions imposed by the U.S. and Canada subsequently led international intermediary banks, which previously facilitated the transfer of funds from Bandes to the Company’s United States bank accounts, to decline to facilitate such transfers or put significant limitations on their participation. The Company and Venezuela have been working with various international banks to accomplish these transfers." Including the November 2017 payment, Gold Reserve has received an aggregate of US $187.5 million in payments on the Settlement Agreement, of which only $99 million has been transferred to its U.S. bank account.  More…