Venezuela May Move Cash, Gold from U.S.

Source:

"Venezuela may transfer billions of dollars in cash and gold reserves held in U.S. and European banks to financial institutions in 'allied' countries."

Bloomberg, Daniel Cancel and Corina Rodriguez Pons

Venezuela may transfer billions of dollars in cash and gold reserves held in U.S. and European banks to financial institutions in "allied" countries, opposition lawmaker Julio Montoya said today.

Montoya, speaking on the Globovision network from the National Assembly, said the Finance Ministry wants to transfer more than $6B of cash reserves to countries including China, Russia and Brazil. Of Venezuela’s $18B in gold reserves, $11B is held abroad and could be transported back to Venezuela, Montoya said, citing a document he said he obtained from the ministry. . .View full article

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