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Thu Jan 24, 2013 4:31 am by Admin



Utopia Forum is almost complete and is now ready for all new members and visitors.

The forum is a little different to here as it uses a single page forum which puts all the topics on one page with important threads globally pinned at the top of the page.

Like i said we are ALMOST complete but we are still playing around and moving things about so please bare …

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FSN: Syria Liquidating Gold To Mitigate Sanctions

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FSN: Syria Liquidating Gold To Mitigate Sanctions

Post  Admin on Fri Apr 20, 2012 9:56 pm

Syria is moving to liquidate its gold reserves to raise revenue as Western and Arab sanctions targeting its central bank and oil exports cut into its cash reserves.

Syria’s foreign exchange reserves have been halved from about $17 billion, French Foreign Minister Alain Juppe said on Tuesday.

“Syria is selling its gold at rock bottom prices,” he said after a meeting with about 60 nations aimed at coordinating measures against President Bashar al-Assad’s government.

On February 27, the European Union agreed more sanctions including prohibiting trade in gold and other precious metals with Syrian state institutions, including the central bank.

According to reports Syrian officials have been offering to sell gold at a 15 percent discount in discret amounts of 20-30 kilograms, which are easier to move in private sales and online auctions.
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