International pressure scuttles Venezuela's plan to dishoard gold


Maduro's Bid to Fly Gold Out of Venezuela Is Blocked

By Patricia Laya
Bloomberg News
Friday, February 1, 2019

The embattled Nicolas Maduro regime has halted plans to ship 20 tons of Venezuelan gold overseas as a growing international push to ring-fence the country's dwindling hard assets unnerved those handling the transaction, according to a person with direct knowledge of the matter.

The gold bars, which are worth about $850 million, had been weighed and separated in the central bank vaults for transportation, but will not be sent out any time soon, the person said. The bank has quietly transformed into a microcosm of the crisis: Some staffers, fearful of getting ensnared in U.S. sanctions and worn down by the crippling economic collapse, have begun to disregard orders, prompting senior management to oust them. ...

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