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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, ... (full story)