As Venezuela Prepares to Dump Dollar, Caracas Moves to Repatriate Gold from Bank of England
Venezuela is looking to repatriate 14 tonnes of gold from the Bank of England as US-led sanctions target their international assets, Reuters has reported.
The move, which will bring around US $550 million of international reserves back under Caracas’ control, was initiated two months ago by the Central Bank of Venezuela (BCV), according to an unnamed official source. No official statements have been made by either the BCV or the Bank of England, who cite client privacy rules for their silence.