Exclusive: Venezuela prepares to fly tonnes of central bank gold to UAE - source


CARACAS (Reuters) - Venezuela will sell 15 tonnes of gold from central bank vaults to the United Arab Emirates in coming days in return for euros in cash, a senior official with knowledge of the plan said, in a bid by the cash-strapped country to stay solvent.

The sale of gold reserves that back the Bolivar currency began on Jan. 26 with a shipment of 3 tonnes, the official said, and follows the export last year of $900 million (£686 million) of unrefined gold to Turkey and the United Arab Emirates.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Roundup: Liquidity crisis deepens hardship in war-torn Yemen
Spain says hantavirus ship evacuees awaiting replacement aircraft in Canary Islands
Lutnick testifies he can't recall why his family lunched on Epstein's island
U.S. stocks close higher
Exclusive-US aims for Fourth of July to deploy Qatar-gifted jet as Air Force One
Brazil's billionaire Batista helped broker Lula–Trump meeting, source says
Crude futures settle lower
U.S. dollar ticks down
Britain's April services PMI edges up from 11-month low
Cuba blasts 'dangerous' US threats of military action against island

Others Also Read