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Venezuela sues Bank of England in furious row over $1.02bn of gold

Venezuela sues Bank of England in furious row over $1.02bn of gold

Venezuela’s central bank has launched a legal claim in an effort to force the Bank of England to hand over £830m of the country’s gold it holds. The gold is being retained by the bank under sanctions imposed by Britain and US on the country. Venezuela says it wants to use the gold to raise cash to fund its coronavirus response, and is calling for the funds to be transferred to the UNDP.

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