How Petro Oro sells Venezuela to the United Arab Emirates

In the next days

Venezuela

expect
sell 15 tons of gold from the coffers of his central bank to

United Arab Emirates

. The goal of the President of Venezuela,

Nicolás Maduro

, is getting euros to fight

the lack of cash that affects the solvency of the country

and therefore be able to finance imports.

The sale of gold reserves to support the bolivar, the Venezuelan currency, began on January 26 when the company Solar Cargo sent, in charter flight, three tons of this precious metal.

In a video recorded in March of last year by the Ministry of Economy of the Palace of Miraflores, Venezuelan Minister of Mines, Victor Cano, explained what the Petro Oro project entails. "We have more than 32 blocks to certify in the Arc Orinoco, that would put us as the world's second largest gold reserves," he said. And Maduro added, "Do you know why the desperation of the imperialists?" For Venezuela's natural wealth, we must defend the development of Venezuela's natural wealth with a free homeland, with an independent homeland and under sovereignty. "

The President continued his speech by talking about the Siembra Minera project: "We have formed an alliance of joint ventures with Canadian companies to operate this fourth gold mine in the world." The start of production is estimated between 36 and 48 months of the mine is estimated at 45. "He also said that the site of the Siembra Minera project contained 1,480 tons of gold, or 52.2 million troy ounces. 39, worth 54.3 billion euros, depending on the price of gold at that time. Regarding copper, the president said that in these mines only, they have a metal valued at 119,688 million euros.

At that time, Maduro had also been talking about a way allowing the people to save gold. "It's a new system that reaches the small, the micro, the medium and the big, and you, as a Venezuelan through Petro Oro, can save on bullion and linguistics," he said. he explains. In this line, he announced that, thanks to an alliance with Turkey, Venezuelans could – like the Turks – save gold and recover money with a digital wallet to continue making transactions and investments.