OREANDA-NEWS. The Russian company Goznak will print 300 million new banknotes with face value from 10 thousand to 50 thousand sovereign bolivars by order of the Central Bank of Venezuela, Bloomberg reports. The agency claims that he was able to get acquainted with the contract that Goznak and the Central Bank of Venezuela signed in November last year.

The course of the sovereign Bolivar (Bolívar Soberano), introduced by the Venezuelan authorities in August 2018 to replace the “severe Bolivar” (Bolívar Fuerte), which was severely affected by hyperinflation, has since fallen sharply. The exchange of “strong bolivar” for “sovereign” was carried out at the rate of 100 thousand to 1, however, the market value of a banknote of 50 thousand sovereign bolivars at the current rate is only $ 0.68, Bloomberg notes. In 2019, inflation in Venezuela amounted to more than 9585%.

In 2014, the US Treasury Department included in the sanctions list SDN (Specially Designated Nationals) companies and individuals involved, according to the agency, in the implementation of the contract for printing Goznak banknotes for the Central Bank of Syria.