The Bank of England (BoE) is reportedly refusing to release
gold bars worth just over $550 million to President Nicolas Maduro, who fears
that U.S. sanctions against Venezuela would restrict access to that gold in the
future, according to media reports. Maduro is attempting to repatriate at least
14 tonnes of gold the BoE is currently storing, the British newspaper The Times
and Reuters reported citing unnamed sources. The BoE is said to be holding on
to the gold for now because British officials are insisting on a clarification
from the Venezuelan government about its plans for the gold to prevent
money-laundering, The Times reported. More…
Friday, November 9, 2018
The BoE Refuses To Release Venezuela’s Gold Worth $550 Million - Reports
The Bank of England (BoE) is reportedly refusing to release
gold bars worth just over $550 million to President Nicolas Maduro, who fears
that U.S. sanctions against Venezuela would restrict access to that gold in the
future, according to media reports. Maduro is attempting to repatriate at least
14 tonnes of gold the BoE is currently storing, the British newspaper The Times
and Reuters reported citing unnamed sources. The BoE is said to be holding on
to the gold for now because British officials are insisting on a clarification
from the Venezuelan government about its plans for the gold to prevent
money-laundering, The Times reported. More…
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