The 2015 National Assembly delegation confirmed that the Venezuelan gold recently released by the Bank of England — approximately 31 tons — will be held in custody by the US Treasury and international companies for use in the country’s reconstruction following the June earthquakes.

The delegation confirmed a strict plan for managing the country’s resources. “The authorities will maintain a permanent financial review of every penny spent.”

According to Congressman Ramón López, “international companies will audit all financial transactions. This mechanism seeks to protect public funds against corruption and the misappropriation of funds.”

The priority is responding to the emergency caused by the earthquakes in June. The plan includes repairing homes, building schools, and rehabilitating severely damaged health centers.

The oversight involves various independent organizations, which will allow for “the traceability of payments throughout the entire reconstruction process.”

M.Pino

Source: puntodecorte

(Reference image source: Jingming Pan on Unsplash)

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U.S. Energy Secretary Chris Wright indicated this Tuesday that annual sales of Venezuelan crude oil will exceed $10 billion.

These revenues would be key to the country’s reconstruction, the U.S. official emphasized, adding: “So far we have sold about $1 billion worth of oil. We recently signed agreements to sell another $5 billion in the coming months. So we are talking about well over $10 billion a year.”

Last week, the official met in Caracas with Venezuela’s interim president, Delcy Rodríguez, to promote a “historic” energy pact. He stated that “this enormous volume of revenue” would be used to “begin rebuilding a country and a society, restoring a free press and a representative government.”

Wright indicated that President Donald Trump has given Rodríguez a vote of confidence in the transition process underway in the South American country. However, he noted that “Washington maintains leverage over Caracas by controlling the Venezuelan oil industry, its largest source of income.”

M.Pino

Source: swissinfo

(Reference image source: Maria Lupan on Unsplash)         

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La entrada Venezuelan crude oil sales to exceed $10 billion annually apareció primero en Bitfinance.