UAE firm says it bought 3 tons of Venezuela gold

By The Associated Press February 2, 2019 at 3:11am

DUBAI, United Arab Emirates (AP) — An investment firm in Abu Dhabi says it has bought some 3 tons of gold from Venezuela amid that country’s political turmoil.

Abu Dhabi’s Noor Capital posted a statement on its website early Saturday acknowledging the purchase after being called out in a tweet Thursday by U.S. Sen. Marco Rubio, a Republican from Florida.

Noor Capital said it “does not engage in any illegal or prohibited transactions,” saying its Jan. 21 purchase was handled “per international standards and laws in place as of that date.”

It added: “Until the situation in Venezuela stabilizes, Noor Capital will refrain from any further transactions.”

The United Arab Emirates is a strong ally of the U.S., but has faced increasing criticism from American lawmakers over its conduct in the war in Yemen.

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