Article Image
IPFS News Link • Venezuela

Maduro Relying On "Planeloads Of Cash" From Russia To Skirt US Sanctions

• by Tyler Durden

"Hundreds of millions of dollars in cash has been shipped from Russia to Venezuela, providing a lifeline to the South American country as U.S. sanctions limit its access to the global financial system," Bloomberg found. 

Citing records obtained from a customs monitoring research group, the report details a significant "total of $315 million of U.S. dollar and euro notes" shipped in up to six deliveries on flights from Moscow to Caracas, spanning May 2018 to April 2019. The illicit funds reportedly went to the socialist country's development bank. 

This included single shipments of $113 million worth of 100-euro bills in one instance, and $50 million in U.S. dollar bills just days later in January of this year. 

The source of the money includes Moscow-based bank Evrofinance Mosnarbank and Russian state-controlled lender Gazprombank — the former established as a joint venture with Venezuela's Bandes, an alleged recipient of the cash transfers.