UK keeps billions in Venezuelan gold reserves frozen at Bank of England after Maduro arrest [FOX News]
StoneX Group Inc. (SNEX)
Company Research
Source: FOX News
The U.K. has signaled over a billion dollars worth of Venezuelan gold will stay held in vaults at the Bank of England, despite the arrest of Nicolás Maduro and the appointment of interim leader, Delcy Rodríguez, according to reports Addressing Parliament on Jan. 5, Foreign Secretary Yvette Cooper suggested that because Britain does not recognize the current administration, the bullion is unlikely to be released. "It is important that we have the pressure in place to have a transition to a democracy which is also about the will of the Venezuelan people," Cooper said. "Obviously, there are independent decisions for the Bank of England to take, but our principles are about maintaining and pursuing stability and a transition to democracy, and that is what is guiding our approach," she said in her statement The gold, which is part of Venezuela's central bank reserves, has been frozen since 2020 amid competing claims over who has legal authority to access it. "So the gold stays w
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