Venezuela begins repatriation of gold reserves from Europe

Posted on November 26, 2011 • Filed under: Economy, Venezuela

Venezuela’s government on Friday began the repatriation of the first batch of gold reserves from the 1980’s, were deposited in European banks. Chavez in August ordered the withdrawal of all precious metal reserves, estimated at 211.35 tonnes, equivalent to 11 billion dollars, which was the country where U.S. and European banks.The president has defended the return of gold reserves to ensure that seeks to preserve the country’s assets and said the move was made following the international legal guidelines. Read Article

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