p Turkey warned over Venezuela gold trade | 2019-02-02

Turkey warned over Venezuela gold trade

BBC

2nd February, 2019 09:20:33 printer

Turkey warned over Venezuela gold trade

 

The Turkish government is coming under renewed pressure to stop buying gold from Venezuela, the BBC has learned.

 

Turkey is now considered the main concern among the countries engaging in the trade.

 

There are growing suspicions that gold exported to Turkey is ending up in Iran, which would violate US sanctions.

 

Turkish President Recep Tayyip Erdogan has sided strongly with Venezuelan President Nicolás Maduro, who is facing a growing political challenge.

 

Venezuela's gold trade with Turkey is soaring. Last year, the country exported almost $900m (£688m) worth of gold to Turkey, ostensibly to be refined there and returned to Venezuela, although there is no record of re-exportation.

 

So the suspicion is growing that some of the gold may be heading via Turkey to Iran, which would violate US sanctions.

 

Moreover, Turkey is now seen by Western governments as posing by far the biggest concern regarding the trade, over and above Russia and the United Arab Emirates, both of which are also reportedly receiving the gold.


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