Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Venezuela Might Move a Part of its Monetary Reserves into Russia
17.08.2011 15:25
Venezuela Might Move a Part of its Monetary Reserves into Russia

Venezuela plans to transfer billions of dollars in cash reserves from European and U.S. banks to banks in Russia, China and Brazil. This was announced by Julio Montoya, a National Assembly deputy, in an interview with Globovision television.

“We think that China, Russia and Brazil have asked Venezuela to transfer the reserves to guarantee the loans that the government has received in recent years,” Montoya said. President Hugo Chavez has not approved the planyet.

The planned moves would include transferring $6.3 billion in cash reserves, most of which Venezuela now keeps in banks such as the Bank for International Settlements in Basel, Switzerland, and Barclays Bank in London. Venezuela also plans to move 211 tons of gold it keeps abroad and values at $11 billion to the vaults of the Venezuelan Central Bank in Caracas where the government keeps its remaining 154 tons of bullion.

Author: Irina Fomina

Tags: Russian business Russian banks Russia   

Next Previous

You might also find interesting:

Krasnaya Polyana Gaming Zone Earned Revenue of more than 4 Billion Roubles
Main Trends of the Russian Grocery Retail Trade
Bank of Russia Reduced the Share of Dollar Turnover in International Reserves
Russian Exports in the Sphere of Services is Growing
Video Conferencing will be Used at the Proceedings on Administrative Cases in Russia

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Russian sanctions   Monuments to People  Russian Orthodox Chruch  terrorism  Russian tourism  Christmas  Marc Chagall  Russian International  Russian opera  Russian business  Fashion Futurum  Mercedes-Benz Fashion Week Russia  Time of the First  Slantsy  Nature Reserves  Yuri Gagarin  Karachay-Cherkessia  Russian Cinema  Sokolniki  National Tension  Tsaritsyno  Russian wedding custom  Exhibition Fairs  snowboarding  Mercedes-Benz Fashion Day St. Petersburg  Festivals in Moscow  Moscow  Russian history  Contemporary Arts  snowmobile  Russian Literature  Aleksandr Sokurov  Russian politicians  Exhibitions in Moscow  Anomalies  Russian book publishers   US sanctions  FIFA World Cup 2014  tourism  Russian space agency  Altai Cuisine  Anatoly Papanov  Russian gas  Okean Elzy  Russian Museums   Nizhny Novgorod Region  St. Petersburg  Theatre Premieres  Vincent Van Gogh  Vyacheslav Tikhonov  

Travel Blogs
Top Traveling Sites