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Venezuela paid Iran 9 tons …

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Venezuela paid Iran 9 tons ...

Venezuela paid Iran 9 tons of gold to help with oil refining
CONTENT

  • Iran receives payment in gold from Venezuela

  • It took several planes and a complex plan for transportation

  • A similar operation in bitcoins would cost three dollars.

International consortium of news organizations developing transparency standards.

Iran had to organize a mega-operation and use several planes to take gold from Venezuela to pay for its services. An equivalent transaction in bitcoins will cost less than three dollars, and no planes are needed.

Iran and Venezuela have been friends for many years. Both countries are under US sanctions and support each other through various bilateral agreements. Recently, however, Venezuela has been badly moneyed, so the country has to sell its gold, including in order to pay off debts to Iran..

Venezuela paid Iran 9 tons ...

Oil in exchange for gold

At the end of April, Bloomberg reported that Venezuela paid in gold for Iran’s services to restore the country’s oil refining industry. As part of a large-scale operation, several Tehran planes took away 9 tons of gold from Caracas worth about $ 500 million. As a result, the country’s official gold and foreign exchange reserves fell to 6.3 billion, which is the lowest value over the past three decades..

Despite the fact that Venezuela is the country with the largest oil reserves in the world, it does not process it on its own. Previously, the United States was engaged in this, but these partnerships ended when the US government imposed sanctions on the Venezuelan oil industry. This embargo had serious consequences for a country that was severely short of fuel.

Maduro tried to negotiate aid with Russia, Turkey and the United Arab Emirates. As a result, it was possible to reach an agreement with Iran, which is also considered a political enemy of the United States government and needs sources of income..

As part of the new agreements, the Iranians sent to Venezuela with additives, experts and equipment to repair the country’s oil refinery. In addition, Iran sent several more planes to Caracas, which were loaded with Venezuelan gold as payment for services..

Although the operation was classified and no amounts were officially disclosed, one thing is for sure: for the implementation of this operation, including ensuring transport security, both countries spent tens of thousands of dollars for both countries amounting to tens of thousands of dollars.

It’s much easier with bitcoins

Transfer fee for 85 thousand BTC will be $ 2.7

Venezuela paid Iran 9 tons ...

An unusual payment method suggests that Venezuela does not have the opportunity to pay with traditional money or other more ways that involve the use of the resources of the financial system.

This is exactly the case when using cryptocurrency is not only easier, but also cheaper. To transfer the same amount in bitcoins, you would have to pay only a few dollars. A transaction of 85,000 BTC (about $ 800 million) will cost only $ 2.75.

The problem is that bitcoins are needed to pay in bitcoins, while Venezuela has only gold, which it is trying to cash out somehow..

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