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Bloomberg

Iran Is Hauling Gold Bars Out of Venezuela’s Almost-Empty Vaults

(Bloomberg) — Out of cash and desperate for help in propping up its oil industry, Venezuela is raiding its gold vaults and handing tons of bars to its long-time ally Iran, according to people with direct knowledge of the matter.Government officials piled some 9 tons of gold — an amount equal to about $500 million — on Tehran-bound jets this month as payment for Iran’s assistance in reviving Venezuela’s crippled gasoline refineries, the people said. The shipments, which resulted in a sudden drop in Venezuela’s published foreign reserve figures, leave the crisis-ravaged country with just $6.3 billion in hard-currency assets, the lowest amount in three decades.The two nations — both pariahs of sorts

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