Venezuela’s Maduro decries sanctions on gold exports

08 December, 2018, 21:55 | Author: Sheila Harris
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The United States and some European nations have sanctioned Maduro's administration in an attempt to pressure Venezuela into making a return to democratic ways.

Venezuela's President Nicolas Maduro, right, embraces Turkey's President Recep Tayyip Erdogan after a joint press conference at Miraflores presidential palace in Caracas, Venezuela, Monday, Dec. 3, 2018. "You cannot punish a whole people to resolve political disagreements", he explained.

Maduro has become increasingly isolated in the world under growing sanctions led by the USA and the European Union which accuse him of undermining democratic institutions to hold onto power, while overseeing an economic and political crisis worse than the Great Depression.

The uncertain economic situation in the country earlier was reflected in increasing trade with Latin America, including Argentina and Peru.

"There are solid ties in friendship and solidarity between our countries".

One of the agreements formalizes cooperation between the state-owned oil companies Petróleos de Venezuela S.A. (PDVSA) and the Turkish Petroleum International Company, in addition to an agreement to avoid double taxation and tax evasion.

Trade between the two countries has risen sixfold over...

Maduro said the two countries will build on the economic and diplomatic foundations.

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"Whatever Venezuela produces, it has a right to sell in the world", Maduro said.

Erdogan and Maduro signed a series of agreements in the areas of mining, commerce and oil.

U.S. officials claim Maduro illegally exported 21 tonnes of gold to Turkey to avoid sanctions bd in an attempt to rescue a shabby economy that was once supported by its huge oil revenues.

In November, Washington imposed new restrictions against Venezuela targeting its gold exports.

Peskov also denied reports suggesting that, in lieu of oil or gold, Russia could require Venezuela to allow Russian military assets to deploy within its borders.

Both leaders are battling financial crises and have clashed with the United States in recent months.

Venezuela, which has been rocked by deadly protests and economic chaos, is counting on Russian support amid growing global isolation.

Venezuela, overwhelmed by hyperinflation, a severe shortage of commodities and a strong recession, has reportedly exported around $ 700 million worth of gold to Turkey.



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