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Iran is hauling gold bars out of Venezuela's almost-empty vaults

ZZZZZ

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#1
See, gold IS money. :oriental::oriental:

Iran is hauling gold bars out of Venezuela's almost-empty vaults

Submitted by cpowell on Fri, 2020-05-01 04:16. Section: Daily Dispatches
By Patricia Laya and Ben Bartenstein
Bloomberg News
Thursday, April 30, 2020

Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter.

Government officials piled some 9 tons of gold -- an amount equal to about $500 million -- on Tehran-bound jets this month as payment for Iran's assistance in reviving Venezuela’s crippled gasoline refineries, the people said. The shipments, which resulted in a sudden drop in Venezuela's published foreign reserve figures, leave the crisis-ravaged country with just $6.3 billion in hard-currency assets, the lowest amount in three decades.

The two nations -- both pariahs of sorts in international circles -- are working more closely together as they try to withstand withering U.S. sanctions and a coronavirus-sparked collapse in the price of oil, their main source of revenue. For Iran, the deals provide a fresh source of revenue. For Venezuela, they ensure that its supply of gasoline doesn’t totally run out. ...
... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-04-30/iran-is-hauling-gold-...

http://www.gata.org/node/20110
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.
 

Fatrat

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#2
So what is Iran sending back, short/long range missiles? I'm not buying the story about helping out the oil industry.
 

Unca Walt

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So what is Iran sending back, short/long range missiles? I'm not buying the story about helping out the oil industry.
Maybe a piece of the action...
 

dacrunch

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#4
See, gold IS money. :oriental::oriental:

Iran is hauling gold bars out of Venezuela's almost-empty vaults

Submitted by cpowell on Fri, 2020-05-01 04:16. Section: Daily Dispatches
By Patricia Laya and Ben Bartenstein
Bloomberg News
Thursday, April 30, 2020

Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter.

Government officials piled some 9 tons of gold -- an amount equal to about $500 million -- on Tehran-bound jets this month as payment for Iran's assistance in reviving Venezuela’s crippled gasoline refineries, the people said. The shipments, which resulted in a sudden drop in Venezuela's published foreign reserve figures, leave the crisis-ravaged country with just $6.3 billion in hard-currency assets, the lowest amount in three decades.

The two nations -- both pariahs of sorts in international circles -- are working more closely together as they try to withstand withering U.S. sanctions and a coronavirus-sparked collapse in the price of oil, their main source of revenue. For Iran, the deals provide a fresh source of revenue. For Venezuela, they ensure that its supply of gasoline doesn’t totally run out. ...
... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-04-30/iran-is-hauling-gold-...

http://www.gata.org/node/20110
.
.
BAD LINK = https://www.bloomberg.com/news/articles/2020-04-30/iran-is-hauling-gold-...
Our apologies.
We're unable to find the
page you're looking for.

404. Page Not Found

GOOD LINK = https://www.bloomberg.com/news/arti...d-bars-out-of-venezuela-s-almost-empty-vaults

THIS ONE WAS GOOD = http://www.gata.org/node/20110
 

GOLDBRIX

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#5
So what is Iran sending back, short/long range missiles? I'm not buying the story about helping out the oil industry.
IDK, They both sit on top of vast reserves of SOUR aka Heavy crude which takes more elaborate refining than WTI and North Sea/BRENT crude.
I find it interesting that Russia is not offering technical assistance. They are there for some reason.