Venezuela Targets $4.4B London Gold Stash
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11 Articles
Venezuela wants the return of over $4 billion worth of gold stored in vaults at the British central bank in London, according to the business newspaper Financial Times. The government and the opposition reached an agreement this week to claim approximately 31 tonnes of gold from the Bank of England.
Venezuela targets $4.4B London gold stash
Venezuela’s government and opposition have agreed to jointly pursue the return of about 31 tonnes of gold held at the Bank of England in a plan to help finance reconstruction... The post Venezuela targets $4.4B London gold stash appeared first on The Northern Miner.
Caracas calls on the Bank of England to release billions of gold reserves to finance the reconstruction of the earthquake-torn country.
Venezuela Eyes $4 Billion Gold Reserves Held At Bank Of England As Inflation Surges
Venezuelan authorities plan to focus on reconstruction efforts and recovering gold reserves worth an estimated $4 billion held in the Bank of England's underground vaults, National Assembly chief Jorge Rodriguez said on Wednesday (August 12), as monthly inflation surged to 20%. The Bank of England has long refused to release some 31 metric tons of Venezuelan gold held in its vaults because it did not recognize the legitimacy of President Nicolas…
Caracas wants to use the 31 tons of gold worth billions to rebuild the country, but so far the British Central Bank has refused to ship the bars.
Following US-mediated negotiations, the government and opposition in Venezuela agreed to try to recover the $4 billion gold held in the UK, according to Financial Times.
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