Russian companies will be excavating Gold in Venez Russian Ambassador

Caracas/Moscow: The Venezuelan government trapped in an economic crisis has accepted a proposal from the Russian companies to explore and excavate Gold in the country. Only a few hours ago, the reports of the takeover of Venezuelan oil companies by Russian companies had surfaced. Meanwhile, it is claimed that Venezuela has Gold reserves of nearly 150 metric tonnes.

Venezuela is placed 25th in the countries having the highest gold reserves. Other than Gold Venezuela has reserves and mines of oil, gas, Iron, Aluminium and diamonds. But because of the economic crisis, Venezuela has not been able to excavate these natural resources. Whereas, the US sanctions imposed at the beginning of this year, against the country banned Gold exports from there. This increased the problems further for Venezuela that was already reeling under an economic crisis.

The Venezuelan government claimed that the economy would receive an impetus if these natural resources were excavated. Given this, the Venezuelan government has allowed the Russian companies to unearth Gold, Diamonds and other ores. Vladimir Zemiski, the Russian Ambassador to Venezuela, gave this information. The Venezuelan and Russian officials have had discussions over the issue in the past.

Russian Ambassador Vladimir Zeminski informed that Russia would be building its military bases in the Venezuelan marine limits. Last week, Russian bombers and fighter jets held special war exercises in Venezuela. Zeminski informed that following these exercises; there were discussions regarding building Russian military bases in Venezuela.