Venezuela sues Bank of England to release US$1 billion gold

The government of Nicolas Maduro insist the gold will not be used by the government but will be used to tackle Covid-19. – EPA pic, June 22, 2020.

BRITAIN “unequivocally recognises” Nicolas Maduro as Venezuela’s president despite not approving of his government, a London court heard today in a case to determine the fate of US$1 billion (RM4.28 billion) of gold.

The highly unusual court action sees the Banco Central de Venezuela (BCV) battling for the release of the gold bullion held in the Bank of England’s (BoE) vaults.

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