The Bank of England (BoE) refused to donate more than USD 550 million of gold bars to the Nicolás Maduro regime to prevent money laundering.
According to the British newspaper The Times, the Maduro regime is trying to repatriate at least 14 tons of gold that the BoE has stored. However, the financial entity will not release them until the use that will be given is clarified.
Reuters: Central Bank of #Venezuela wants bars #oro valued at $ 550 million in the Bank of England. The government is concerned about the penalties and attachments of creditors. They could not repatriate them because they can not get insurance for the transfer.
– Mariano de Alba (@marianodealba) November 5, 2018
According to the media, there is concern that the Chavista dictatorship may seize gold that is owned by the state and sell it for personal gain.
The Venezuelan gold that was kept in the Bank of England was used until last year as collateral and supported international loans.
And recently the US government announced new sanctions against the Venezuelan dictatorship after the illegal export of gold with which it has been enriched and held in power.
EE. UU. He complained that the sale of gold for Venezuela has become a way to circumvent American sanctions. "The United States has identified a first sector, that of gold, which the Venezuelan government has used to carry out illegal transactions (…) with that looting, not only do they rob the heritage to their own people, but it is also something that has had serious consequences for the environment, such as in mercury in rivers, "said John Bolton, National Security Advisor to the North American country.
At the moment it is almost impossible to calculate the amount of gold in the Venezuelan Mine, it is believed that there could be 8,000 tons, equivalent to 243,000 million euros, without the reserves of coltan, bauxite, copper and diamond to count. that also rests in the place.
After international sanctions and a shortage of foreign currency from oil, the Maduro regime has shown its new "liking" for gold in Venezuela; this, after, in the eyes of the world, the illegal control of the mineral by guerrillas, such as the ELN, is permitted, a group that has become a kind of "armed arm" of the dictatorship that has the production of this minerals in the state regulates Bolívar.
Venezuela has lost tons of gold
It should be recalled that the Maduro regime lost approximately 90 tonnes of gold in October for not paying debts abroad.
The Venezuelan dictatorship overcame an exchange operation, so the German bank Deutsche Bank was left with the gold it had as collateral. The transaction was agreed in 2016 for USD 1,700 million, which were not paid by the dictatorship.
"They knew very well that this money would not be paid, most likely the gold that is left out will be killed in the same way, it's a pity," he said before PanAm message the economist Daniel Lahoud.
Illegal mining keeps Maduro in power
In the absence of oil production in Venezuela, the Maduro regime would have found another way to finance itself & # 39; to stay in power: it would export gold illegally to Turkey.
The US Treasury Department warned that Venezuela is increasingly using the gold trade "without environmental or accounting controls" to finance the corruption networks that support the dictatorship.
Marshall Billingslea, assistant secretary of the US Treasury UU., Said that the Maduro regime, after leaving the state-owned oil company PDVSA, turned its attention to the exploitation of gold to obtain resources. He also condemned the sacking of gold mines in the south of Venezuela and said he "approaches a situation similar to that of bloody diamonds" in Africa.
According to the official, the estimate of the last few months that "21 tons of gold" would come from Venezuela, which went "mainly to Turkey"; which would be equivalent to usd $ 840 million.
The gold "is taken out of the country without any justification to know where the money is going," he said.
The representative of the Ministry of Finance has stated that this uncontrolled exploitation of gold will also become a problem for the region:
It is not conventional mining, it destroys the forests and creates huge amounts of stagnant water contaminated with mercury and other chemicals. It will be an environmental disaster for decades, with outbreaks of malaria, dengue; and these diseases go through the region with the millions of refugees.