Will UAE face sanctions over Venezuelan gold? l Inside Story – Al Jazeera English
The economic crisis in Venezuela has forced millions of people to leave the country, as they can’t afford basic goods such as food and medicine.
In an attempt to buy in imports and meet the demands, President Nicolas Maduro has been using the country’s gold reserves.
The Reuters news agency says he’s planning to sell 29 tonnes of gold this month from the central bank vaults to the United Arab Emirates in return for cash in Euros.
The United States is warning anyone involved in dealing in the gold faces Treasury sanctions.
So will Washington take action against the UAE?
Presenter: Martine Dennis
Bill Law, Middle East Analyst who writes for the website Gulf Matters.
Tom Long, Associate Professor of Politics and International Studies at the University of Warwick.
Naeem Aslam, Chief Market Analyst at the online brokerage firm Think Markets.
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