London’s High Court rules against Venezuela’s Maduro in $1 billion gold battle. gold mining
London’s High Court has rejected President Nicolas Maduro’s latest efforts to gain control of more than $1 billion of Venezuela’s gold reserves stored in the Bank of England’s underground vaults in London.
The Maduro and Guaido camps have each appointed a different board to the Central Bank of Venezuela and the two have issued conflicting instructions concerning the gold reserves. Guaido’s opposition has alleged that Maduro’s cash-strapped administration wants to use the money to pay off his foreign allies, which his lawyers deny.
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