While countries such as China and Russia continue to add to their holdings, Venezuela has been the world’s largest seller of gold for the past two years. Venezuela Began Liquidating Its Gold After

14 Jan 2019 and coal exploration and has started investing in the country's oil industry. Venezuela's central bank began refining gold in Turkey in 2018. 6 Aug 2018 And in June, Venezuela's state-owned oil and gas company, Petróleos de Venezuela (PDVSA), informed at least eight foreign clients that it would  13 Nov 2018 “As oil production has fallen, the government has become increasingly reliant on gold for quick cash,” said Geoff Ramsey, a Venezuela analyst at  Venezuela crisis: Major global powers ordered to stop trading oil and gold assets with Maduro. It comes at a time when political tensions in Venezuela are reaching boiling point, with the oil-rich, but cash-poor, country in the midst of the Western Hemisphere's worst humanitarian crisis in recent memory. Venezuela will sell oil and part of the gold it produces for its national petro cryptocurrency, the country’s President Nicolas Maduro said. The crash of steel pounding rock echoes through the dark gallery, as Darwin Rojas, 43, hammers away in a small corner. He's muddy, sweaty and breathing heavily, crushing stone after stone around him.

21 Mar 2019 The scheme has been one of their most lucrative in recent years as oil production has fallen. The administration's action “will prevent Maduro and 

The crash of steel pounding rock echoes through the dark gallery, as Darwin Rojas, 43, hammers away in a small corner. He's muddy, sweaty and breathing heavily, crushing stone after stone around him. Gold is fast becoming indispensable to those clinging onto power in crisis-stricken Venezuela. Political tensions in the South American country are reaching boiling point, with the oil-rich, but Venezuela’s natural reserves, such as oil, gas, and gold, encourage the US to seek regime change there, President Maduro told RT, saying he won’t be remembered as a leader who showed weakness and ignorance to his people. With sanctions imposed by Washington choking off revenues from exports by state oil company PDVSA, President Nicolas Maduro’s increasingly isolated administration has turned to sales of Venezuela’s While countries such as China and Russia continue to add to their holdings, Venezuela has been the world’s largest seller of gold for the past two years. Venezuela Began Liquidating Its Gold After Venezuela has been trying for years to increase its gold reserves by encouraging mining, putting the military in charge of vast territories that yield the precious metal. State gold processor Gold Reserves in Venezuela remained unchanged at 161.22 Tonnes in the fourth quarter of 2019 from 161.22 Tonnes in the third quarter of 2019. Gold Reserves in Venezuela averaged 319.36 Tonnes from 2000 until 2019, reaching an all time high of 372.93 Tonnes in the third quarter of 2011 and a record low of 150 Tonnes in the second quarter of 2018.

Venezuela will sell oil and part of the gold it produces for its national petro cryptocurrency, the country’s President Nicolas Maduro said.

1 Feb 2019 That gold is not Calixto Ortega's, it is of the Venezuelan people,” read the Russian oil company has fed more than $7 billion in Venezuela,  2 Feb 2019 Plans by Venezuelan officials to ship 20 tons of gold overseas have oil to the U.S. It also granted Guaido control of Venezuelan assets in the 

9 May 2019 Venezuela's crisis has been deepened by U.S. sanctions against the Venezuelan oil industry. In March, it also sanctioned the Venezuelan gold 

2 Feb 2019 Plans by Venezuelan officials to ship 20 tons of gold overseas have oil to the U.S. It also granted Guaido control of Venezuelan assets in the 

5 Feb 2019 Major global powers, including the U.S., have publicly recognized opposition leader Juan Guaido as Venezuela's legitimate interim president.

22 Feb 2018 After Releasing Oil-Backed Petro, Venezuelan President Hints At Gold-Backed ' Petro. News. After the launch of the Venezuelan  14 Jan 2019 and coal exploration and has started investing in the country's oil industry. Venezuela's central bank began refining gold in Turkey in 2018.

21 Mar 2019 The scheme has been one of their most lucrative in recent years as oil production has fallen. The administration's action “will prevent Maduro and  5 Feb 2019 Major global powers, including the U.S., have publicly recognized opposition leader Juan Guaido as Venezuela's legitimate interim president. 21 Feb 2019 Despite possessing the world's largest petroleum reserves, Venezuela's oil income has been collapsing due to inadequate maintenance and  25 May 2016 The gold swap is another indication the country is desperate for cash. Venezuela and its national oil company PDVSA have some $6bn to  2 Feb 2019 Venezuelan President Nicolas Maduro's effort to ship 20 tons of gold announced it would sanction Venezuela's state-owned oil company,  1 Feb 2019 That gold is not Calixto Ortega's, it is of the Venezuelan people,” read the Russian oil company has fed more than $7 billion in Venezuela,