Deep in the vaults: the Bank of England’s £1.4bn Venezuelan gold conundrum
by Richard Partington Senior economics correspondent from US news | The Guardian on (#72M67)
Nicolas Maduro's seizure by US reopens question of who controls country's reserves held in the UK
Deep under London's streets, thousands of miles from Caracas, Nicolas Maduro's seizure by the US has reopened a multibillion-dollar question: who controls Venezuela's gold reserves at the Bank of England?
After the ousting of Maduro, global attention has largely focused on the South American country's vast oil wealth - believed to be the largest reserves of any nation in the world. However, Venezuela also has significant gold holdings - including bullion worth at least $1.95bn (1.4bn) frozen in Britain.
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