Maduro insists on the right of Venezuela to sell gold

© RIA Novosti / Sergey Goneeverything in Photobacterium of Venezuela, Nicolas Maduro. Archival photoMaduro insists on the right of Venezuela to sell gold© RIA Novosti / Sergey Goneeverything the image Bank

Venezuelan President Nicolas Maduro said Monday that his country has the right to sell their gold on the background of sanctions by the US and uncertainty about the return to Venezuela of its gold from the UK.

Earlier it became known that Venezuela wants to return $ 550 million in gold bullion from the Bank of England because of fears that they may be blocked due to sanctions against the country. As reported by Reuters, we are talking about the 14 tons of gold. The implementation of these plans was delayed approximately two months due to difficulties with obtaining insurance that is required to move a large cargo of gold.

«Venezuela has the right to sell what it produces, we are moving forward with the plan of gold production, the source of new wealth», – quotes the words of Maduro after the meeting with President of Turkey Tayyip Erdogan radio Union. According to Maduro, the sanctions against Venezuelan gold illegal.

The President of the United States Donald trump November 1 ordered to impose sanctions aimed at blocking the operations of Venezuela, with its gold reserves. As the document says, the U.S. administration intended to prevent the authorities of the Latin American countries, in particular, to «plunder the wealth of Venezuela to their own corrupt purposes» and «damage the infrastructure of Venezuela and the ecology of the country through wasteful management».

Initially, Venezuela send their gold for processing in Switzerland and then returned home, however, after the introduction of the EU sanctions in 2018 the government Maduro was to use Turkey.

Maduro has invited Turkey to participate in the sale and production of the Venezuelan gold, diamonds, coltan, aluminum and iron.

In mid-November, the Vice-President of Venezuela, Tarek El-Aissami invited to participate in the production of gold in Russia, told RIA Novosti the Russian Ambassador in Caracas Vladimir Zaemskiy. According to him, Russia can participate in these projects if there are specific suggestions that should be made by the Venezuelan side to 13 December.