BREAKING: Citigroup Sells $1 Billion Venezuelan Gold, To ReCoup Loan

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Citibank plans to sell the Venezuelan gold held as a guarantee – which has a market value of roughly $1.358 billion – to recover the first tranche of a loan made in 2015 between Citigroup and Venezuela. The company will also deposit the excess of roughly $258 million in a bank account in New York.

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