WORLD_ How 7.4 Tons of Venezuela’s Gold Landed in Africa—and Vanished

THE WALL STREET JOURNAL


How 7.4 Tons of Venezuela’s Gold Landed in Africa—and Vanished

Secret deliveries to a refinery in Uganda expose a global underground economy many suspect is helping Nicolás Maduro cling to power



Gold is refined at African Gold Refinery in Entebbe, Uganda. Esther Ruth Mbabazi for The Wall Street Journal


By Gabriele Steinhauser and Nicholas Bariyo
June 18, 2019 10:23 am ET


ENTEBBE, Uganda—The government of Venezuelan President Nicolás Maduro is selling off his country’s gold reserves. Some of it has passed through a secretive operation in East Africa, a gambit that evades U.S. sanctions.

On two early-March flights, at least 7.4 tons of gold with a market value over $300 million moved from Venezuela to a refinery in Uganda, say officials in Venezuela and Uganda, a foreign diplomat and Venezuelan opposition lawmakers, who have concluded Mr. Maduro’s government exported the ingots.

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READ MORE: https://www.wsj.com/articles/how-7-4-tons-of-venezuelas-gold-landed-in-africaand-vanished-11560867792

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