Venezuela is looking to repatriate 14 tonnes of gold from the Bank of England as US-led sanctions target their international assets, Reuters has reported. The move, which will bring around US $550 million of international reserves back under Caracas’ control, was initiated two months ago by the Central Bank of Venezuela (BCV), according to an
As Venezuela Prepares to Dump Dollar, Caracas Moves to Repatriate Gold from Bank of England
The reported initiative follows a recent trend by Venezuela to take back control of its national reserves and move away from US- and dollar-controlled financial institutions.