Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis
The Central Bank of Venezuela has started legal action against the Bank of England to force it to make available part of the Caribbean country’s official gold reserves.
In December 2018, the Latin American central bank requested access to the $1.2 billion in gold reserves stored by the BoE. However, the BoE refused to accept the request in January 2019.
At that time, a large number of foreign governments, including those of the US and most Latin American and European Union countries, ceased to
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