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July 23, 2018

VULTURES OF A FEATHER: Venezuela exported $779 mln in gold to Turkey in 2018.

Venezuela’s Mining Minister Victor Cano on Wednesday said the central bank was exporting gold to Turkey rather than Switzerland due to concerns about sanctions, without specifying the amount that was being sent.

The latest data on Turkey’s Statistical Institute website show that between January and May, Venezuela exported 20.15 tonnes of gold to Turkey, compared with none in 2017. Turkey did not send an equivalent amount of gold back to Venezuela, the data showed.

Evading sanctions — or putting the deposit down on a cushy safe haven for Venezuela’s socialist elite when the regime collapses?

Meanwhile, for those without gold to export: In Venezuela, public buses give way to private ‘dog carts’.