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News > Latin America

Venezuela to Boost Gold Despite US Sanctions

  • Venezuela to Boost Gold Despite US Sanctions
Published 11 November 2018

Despite sanctions imposed early November by U.S. President Donald Trump, Venezuela will continue to invest heavily in the production of gold, President Maduro told media officials.

Venezuelan President Nicolas Maduro told media officials that his administration will continue to improve the production of minerals, particularly gold despite sanctions imposed by the United States.


Maduro: Venezuela Sitting on 2nd Biggest Gold Reserve on Earth

"Venezuela will never follow the orders of the U.S. empire and will continue to produce gold," Maduro said defiantly.

In early November U.S. President Donald Trump imposed new sanctions against Venezuela, banning U.S. citizens from involvement in the gold export trade with the country.

"It may sound crazy to prohibit the country from producing and selling gold," said Maduro, "but Venezuela will continue to obtain important gains in gold for public education, public health and people's housing."

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