FT: Venezuela is preparing to remove from London its gold reserves for $ 4 billion
The government of Venezuela in the near future may achieve the transfer of gold reserves of the Central Bank of the country worth about $ 4 billion from the Bank of England to the Federal Reserve Bank of New York. This is reported by the Financial Times, citing unnamed sources.
The government of Venezuela in the near future may achieve the transfer of gold reserves of the Central Bank of the country worth about $ 4 billion from the Bank of England to the Federal Reserve Bank of New York. This is reported by the Financial Times, citing unnamed sources.
Under the terms of the deal, Delcy Rodriguez’ interim government would have legal control over the gold, but would be barred from immediately selling those assets. The gold could be used as collateral to finance spending loans, including to rebuild Venezuelan infrastructure after the devastating earthquakes in June, sources said.
A possible gold deal would be one of the first concrete outcomes of the U.S.-backed talks between the interim government and the Venezuelan opposition.
The deal would end a seven-year dispute over Venezuela’s gold reserves. It began in 2019, when the United States, the United Kingdom and several other countries recognized opposition politician Juan Guaido, then head of the National Assembly, as the country’s legitimate president.
Eugene Hvostik
