Skip to content

Gold

Why The United States Is Reimposing Sanctions On Venezuela

Even the US business magazine Forbes expressed surprise at the reimposition of US sanctions on Venezuela’s gold sales and its threat to do the same with oil. The oil sanctions especially, if reinstated, would precipitate higher gas prices and further debilitate the Venezuelan economy, forcing more people to leave the country out of economic necessity. The Venezuelan government, for its part, has not been contrite. Vice President Delcy Rodríguez protested “the wrong step of intensifying economic aggression against Venezuela.” She warned that if Washington takes the threatened measures, Venezuela will cancel repatriation flights returning Venezuelan immigrants back from the US.

US Revokes Venezuela Gold License In Retaliation Against Court Ruling

The United States revoked a general license granted to the Venezuelan state gold company, Minerven, after Venezuela’s Supreme Court of Justice (TSJ) confirmed the disqualification of María Corina Machado from exercising public functions for a period of 15 years. The license (number 43) was issued in October 2023 along with others granted to the oil and gas industries within the framework of negotiations conducted in Barbados between the government of President Nicolás Maduro and sectors of the Venezuelan far-right opposition. The operations authorized in the license to Minerven must be liquidated before February 13, states the document from the Office of Foreign Assets Control (OFAC) of the US Treasury.

Niger Puts An End To Uranium And Gold Export To France

With immediate effect, the Republic of Niger, under the leadership of new president General Abdourahamane Tchiani, and supported by the people of the country, announced the suspension of the export of uranium and gold to France on Sunday. In parallel to the decision, protestors were surrounding the French Embassy in Niger calling for the end of French colonial practices repeating the slogan “Down with France!” and reaffirming their support to the coup leader, Tchiani. Wazobia Reporters, a Nigerien news website,reported one protestor proclaiming “We have uranium, diamonds, gold, oil, and we live like slaves? We don’t need the French to keep us safe.”

US/France Threaten Intervention In Resource-Rich Niger

The US and France have threatened foreign intervention to re-install a pro-Western regime in Niger. Niger is a major producer of gold and uranium, the latter of which is needed for European nuclear energy. The country has significant oil reserves to which foreign corporations have wanted access. It also hosts large US drone bases. These Western threats follow coups led by nationalist, anti-colonial military officers in neighboring Burkina Faso and Mali, whose governments have warned that intervention would be considered an act of war, and could thus set off a regional conflict. West Africa is rich in natural resources. It is also very strategic for the United States and France.

Guaidó Is Gone But London Keeps The Gold

In late December, Venezuela’s leading opposition parties voted to oust Juan Guaidó as “interim president” and dissolve his parallel government. This was clearly not the ending the U.K. government had in mind. Four years ago, the British government made the bold decision to recognise Guaidó as Venezuelan president and proceeded to facilitate his legal battle to seize roughly $2 billion of gold held in the Bank of England. Indeed, the U.K. government insisted at every turn that it recognised Guaidó — and not Nicolás Maduro — as Venezuelan president. In turn, Guaidó’s lawyers argued that he was authorised to represent and control the assets of the Central Bank of Venezuela held in London. Throughout this time, Guaidó paid his U.K. legal costs by drawing on millions of dollars of his country’s assets originally seized by the U.S. government. In other words, Guaidó tried to seize Venezuelan state assets with looted Venezuelan state assets.

New US Sanctions Are Designed To Hit Nicaragua’s Poorest Citizens

The Biden administration has announced new sanctions which are intended to hit the poorest Nicaraguans – both in their pockets and in the public services on which they depend. This latest attack on a small Central American country is, as usual, dressed up as promoting democracy: the sanctions will “deny the Ortega-Murillo regime the resources they need to continue to undermine democratic institutions in Nicaragua.” But everyone knows the real target is ordinary Nicaraguans who voted overwhelmingly to return a Sandinista government in last year’s elections. The new sanction are aimed at “Nicaragua’s gold industry,” with an implicit message that this hits President Daniel Ortega’s personal treasure chest. The reality is very different.

London Brazenly Steals Venezuelan Gold As US Hijacks Boeing 747

The President of Venezuela, Nicolás Maduro, accused the United Kingdom on Wednesday, August 3, of stealing in a “brazen and outrageous” way the Venezuelan gold deposited in London, where a court announced last week that it would continue to retain the precious metal from Venezuela’s reserves. In a conference with entrepreneurs at the Teresa Carreño facilities in Caracas, the head of state stated that for Venezuela it is an operation of “kidnapping and theft” of the 31 tons of gold, valued at approximately 1,600 million euros. “Venezuela must know that it is an act of piracy and theft, and the whole world must know that there is no legal certainty in London or in the Bank of England, that at any moment the countries of the world can be robbed of their international reserves, their gold reserves,” he said.

Caracas Protests ‘Astonishing’ Ruling In Favor Of US-Backed Guaidó

Venezuelan authorities have blasted the latest court ruling in the struggle for control over 31 tonnes of gold stored in the Bank of England (BoE). On Friday, the High Court of England and Wales decided in favor of opposition politician Juan Guaidó and dismissed a new effort by the Venezuelan Central Bank (BCV) to regain control over the reserves worth an estimated US $1.7 billion. Caracas had brought to court the Venezuelan Supreme Court decrees stating that the parallel BCV board appointed by the US-backed opposition was illegal. However, judge Sara Cockerill decreed that the British Court could not recognize the rulings made by Venezuela’s highest judicial instance. Since late 2018, the Bank of England has refused BCV requests to repatriate the gold reserves.

Guaido’s Team Told To Comply With UK Court Order In Gold Litigation

London - According to the London-based legal firm Zaiwalla & Co., Guaido’s lawyers sought to argue during an administrative hearing held on Thursday at the London Commercial High Court that they were unable to produce the £400.000 ($529.000) required because of the sanctions in place against Venezuela by the United States. The BCV counsellor noted that the losing side only raised the issue of the sanctions after the October 20 payment deadline had passed, so judge Sara Cockerill warned them that they should find better excuses, or they will be in “all sort of trouble” for failing to comply with a UK court order.

UK Court Rules Favorably For Returning Venezuela’s Gold

London - A tug-of-war over $1 billion worth of Venezuelan gold stored at the Bank of England took a new turn on Monday as the English Court of Appeal overturned an earlier High Court ruling on who the UK recognised as Venezuela’s president. The Court of Appeal granted the Nicolas Maduro-backed Banco Central de Venezuela’s (BCV) appeal and set aside July’s High Court judgement, which had found that Britain’s recognition of opposition leader Juan Guaidó as “constitutional interim president of Venezuela” was conclusive.

After A Visit From The Council, Anti-Gold-Mining Activists Say They Will Fight Any Eviction Attempt

Activists claim the official was not initially forthcoming. They say they noticed a man arriving in a hurried fashion in a white jeep. The man got out of his vehicle and then took photos of the protest caravans. He then tried to leave very quickly. When activists approached him, he identified himself as an official from the Fermanagh and Omagh District Council’s planning office. Activists told The Canary the official said he was taking photos to “build a file on the camp”. The official informed them, they said, that the landowner might have to remove the camp, as they don’t have planning permission for the two caravans on site. When they asked why the council took nine months to approach them, the official reportedly said it had only recently found out about it through social media.

UK Banks Refuse To Return Venezuela’s Gold

Russia and Venezuela are among the countries the EU, including Great Britain, has imposed sanctions on. Both nations have been targets of London’s vigorous attacks, being blamed for numerous nefarious things they have allegedly done. The UK insists that everyone play by the rules. Meanwhile, London is making mockery of commonly accepted norms in the international relations. The government of Venezuela is seeking to eventually repatriate at least 14 tons of gold held at the Bank of England (BOE). It has recently asked to release the gold bars worth about £420 million or $550 million. This is the right and timely move as the new round of punitive measures recently imposed on Caracas by Washington showed.

Maduro: Venezuela Sitting On 2nd Biggest Gold Reserve On Earth

President Nicolas Maduro announced a new set of measures in the Venezuelan gold industry to combat the U.S. imposed sanctions, which he described as “crazy” and “criminal,” accusing the North American country of blocking, and raising the price of food and medicine imports into the country. The U.S. government announced a new set of sanctions against the Latin American country last week, potentially limiting their gold exports, as announced by the national security senior advisor John Bolton. The sanctions already prohibited institutions, business and anyone from giving any kind of financial support to the Bolivarian Revolution. Maduro answered Bolton’s comments during a televised speech, saying Venezuela is currently certifying 32 gold fields.

Bank Of England Refusing Venezuelan Request To Return $550 Mln In Gold

Earlier, Caracas indicated that it was looking to repatriate some 14 tons of gold bars back from the UK out of concern that the bullion may be affected by harsh US sanctions against the Latin American country. The Bank of England is refusing to release Venezuela's gold bars, worth about $550 million or £420 million, back to Caracas, with British officials understood to have referred to "standard" anti-money laundering measures, The Times reports, citing unnamed sources. "There are concerns that Mr. [Nicolas] Maduro may seize the gold, which is owned by the state, and sell it for personal gain," the newspaper explains. On Tuesday...

Greek State Prosecutes 21 Environmental Defenders

This is Dimitri Lascaris, reporting for The Real News Network from the courthouse in Thessaloniki, Greece, the second largest city in the country. We are here today for the first day of a trial against 21 local residents involving charges of various criminal offenses in connection with an alleged arson at the gold mine of Eldorado Gold in Halkidiki, Greece. Eldorado Gold Corporation is a Canadian gold mining company. It has assets in Canada, Turkey, Greece, Romania, Brazil and Serbia. It’s headquartered in Vancouver, British Columbia, and its shares are listed on the stock exchanges of Toronto and New York. 
Sign Up To Our Daily Digest

Independent media outlets are being suppressed and dropped by corporations like Google, Facebook and Twitter. Sign up for our daily email digest before it’s too late so you don’t miss the latest movement news.