Bank of England stalls return of Venezuela's gold

Section:

This should clean out the rest of the Bank of England's custodial gold PDQ.

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Maduro Scrambles to Bring Venezuela's Gold Back from the UK

By Stephen Gibbs
The Times, London
Wednesday, November 7, 2018

CARACAS -- President Maduro of Venezuela is trying to repatriate at least 14 tonnes of gold held at the Bank of England, fearing that access could be frozen under U.S. sanctions against his regime.

The bank has refused to release the gold bars, worth about L420 million, according to sources. British officials are understood to have insisted that standard measures to prevent money laundering be taken -- including clarification of the Venezuelan government's intentions for the gold.

There are concerns that Mr Maduro may seize the gold, which is owned by the state, and sell it for personal gain. ...

... For the remainder of the report:

https://www.thetimes.co.uk/article/maduro-scrambles-to-bring-venezuela-s...



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