Switzerland has emerged as a key hub in Venezuela’s gold dealings.
According to Swiss TV SRF, billions of francs’ worth of Venezuelan gold was flown here between 2012 and 2016 and remelted.
The shipments, ordered by President Nicolás Maduro, were used to raise hard currency as the state neared bankruptcy.
Venezuela defaulted in 2017 and now owes around USD 170 bn.
Much of the gold was later sold on, including to Turkey.
Today, tighter rules make such trades unlikely.
Tense press conference highlights council's shortcomings
Questions continue to mount over the role of Crans-Montana’s council following last week’s deadly fire.
Insurers prepare for massive fire costs
Health insurers are bracing for enormous costs after the deadly New Year’s Eve fire at a bar in Crans-Montana.
Green party calls on Bern to ban Trump
Swiss Green Party leader Lisa Mazzone has called on the government to declare US President Donald Trump persona non grata and bar him from attending the World Economic Forum’s meeting in Davos in two weeks’ time.
Illegal birds stopped at Geneva border
Border guards have intercepted an unusual illegal trade - dozens of protected birds smuggled across the border.
Govt looks at supporting electric trucks
Switzerland is moving to electrify trucks.
Schools offer support to students following bar fire
School students in Geneva returned to classrooms yesterday under a heavy emotional cloud, following a deadly New Year’s Eve fire in Crans-Montana.
