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:

Cyber Security Risk Summit 2017
Sberbank and ITMO University will Start Cooperating
International Promotion of Russian Tech Entrepreneurs
Sberbank Launches New Service For Small Businesses
Sberbank will Offer Online Lending to Small Businesses

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Flowers Delivery

search on the map
Visa to Finland  Yekaterinburg  AvtoVAZ   Russian Avant-Garde  Andrey Zvyagintsev  elections in Russia  contemporary art  Bashkortostan  Russian airlines  Albert Demchenko  Russian mobile operators  Exhibitions in Moscow  wine producers in Russia  economic crisis  Moscow  Victory Day  Russian Cinema Week  Mercedes-Benz Fashion Week Russia  Russian Literature  Russian Cinema  Pinocchio  Vera Mukhina  Pyatigorsk  Pushkin Museum of Fine Arts  Painting  Cyborgs  Space Exploration  hostels in Moscow  astronomy  Russian Internet  Russia Orthodox Church  Alexander Matveyev  Archeology  Masha and the Bear  Russia international  Penza  the Republic of Karelia  Russian business  City Day  International Asteroid Day  Russian tourism  Roman Abramovich  Bolshie Berezniki  Russian oil  Central House of Artist  Russian history  Constitution  Chelyabinsk Regional Museum of Local History  Architecture  The Netherlands 

Travel Blogs
Top Traveling Sites