Venezuela’s gold transactions with Turkey may point to another sign of growing Russian influence
The recent announcement from the
Venezuelan Central Bank that it is sending gold to Turkey to be refined has not
received enough attention amid the diplomatic row between Turkey and the United
States. The spat started with growing
frustration over Turkey’s detention of American pastor Andrew Brunson and has
now ramped up with both sides imposing tariffs. But in the midst of all this
Venezuelan authorities decided to begin refining gold in Turkey, something they
were previously doing in Switzerland. Venezuela exported $779 million of gold
(20.15 tons) to Turkey in 2018, all of which will ultimately return to
Venezuela to become part of the Central Bank’s portfolio of assets. More…
The recent announcement from the
Venezuelan Central Bank that it is sending gold to Turkey to be refined has not
received enough attention amid the diplomatic row between Turkey and the United
States. The spat started with growing
frustration over Turkey’s detention of American pastor Andrew Brunson and has
now ramped up with both sides imposing tariffs. But in the midst of all this
Venezuelan authorities decided to begin refining gold in Turkey, something they
were previously doing in Switzerland. Venezuela exported $779 million of gold
(20.15 tons) to Turkey in 2018, all of which will ultimately return to
Venezuela to become part of the Central Bank’s portfolio of assets. More…
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