Turkey’s aid to Venezuela lets it access the nation’s gold—and thumb its nose at the West
When Venezuelan President Nicolás Maduro was feted with thick cuts of beef and luxury cigars at Salt Bae’s celebrity steakhouse in Istanbul last month, he provoked outrage—his citizens at home are starving. But the visit also drew attention to an emerging alliance: As the West isolates his government over abuse and corruption, Turkey has become one of its most important backers.
Turkish products—pasta, rice, and corn flour— fill the heavily discounted food packets Venezuelan officials use to maintain political fealty among the increasingly cash-strapped citizenry. The two countries recently announced joint ventures for gold and coal exploration and have begun talks about Turkey investing in Venezuela’s crippled oil industry. And while most big North American and European air carriers have ended service to Venezuela, Turkish Airlines does a three-times-a-week run to Caracas, via Cuba, and plans to step it up to daily flights.Tons of Venezuelan gold—strip mined in rancid conditions overseen by the military—are being shipped to Turkey for refinement and processing. U.S. officials say some may be making its way to Iran in violation of sanctions on the Islamic Republic.
All told, the deals are further evidence that President Recep Tayyip Erdogan’s Turkey, a NATO member, may be shifting away from the West toward China, Iran, and Russia. In August, the U.S. imposed sanctions on two Turkish government ministers to pressure Erdogan into releasing an American pastor being held on charges of espionage. Further sanctions are being considered.
Denne historien er fra November 01, 2018-utgaven av Bloomberg Businessweek Middle East.
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Denne historien er fra November 01, 2018-utgaven av Bloomberg Businessweek Middle East.
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