We are talking about the precious metal, which was submitted by Venezuela as collateral for credit issued in 2016. Then, Caracas has received from of Germany’s largest Bank loan in the amount of $750 million in cash.
Venezuela has ceased to fulfill the conditions of the agreement, according to which had to pay interest on the loan. As a result, the Bank decided to terminate the agreement, which expires in 2021, and to confiscate the gold, according to “Vedomosti”.
The opposition, headed by Juan Guido, asked Deutsche Bank to withdraw $120 million to the accounts to which access will not be available to the President of Venezuela Nicolas Maduro. This amount, according to the opposition, reflects the difference in the price of Venezuelan gold from the time of its acquisition to its current level.
Meanwhile, Venezuelan authorities continue to sell off gold reserves of the country, in an effort to raise hard currency the face of anti-American sanctions. As reports Reuters, citing sources close to the government, we are talking about eight tons of gold that was taken from the vaults of the Central Bank.
Precious metal to be sold abroad. It also became known that from the beginning of 2019 gold reserve Venezuela decreased by 30 tons. If the pace of gold sales will continue, the country may remain without it, the end of the year.
At the end of January it was reported that 20 tons of gold from the vaults of the Venezuelan Central Bank, about 20% of the rest of the country’s gold reserve can be transported on the Russian plane, which the second day in Caracas on a private Parking lot.