US Seizes Venezuela's Remaining $4.3 Billion Gold Reserves

The US Treasury Department has announced that it will confiscate Venezuela's remaining gold reserves worth $4.3 billion, held at the Bank of England. The decision comes after talks between the acting Venezuelan government and opposition representatives, who agreed to work together on securing the release of the funds.

The 31 metric tons of gold were repatriated to London in the early 2010s by former President Hugo Chávez as part of a move to protect Venezuela's assets from global financial instability. However, it appears that some portion remained at the Bank of England for potential international operations.

As part of the agreement, the funds will be deposited into a US Treasury bank account and subject to external audits. The move has sparked controversy, with some speculating about the motivations behind the US decision to confiscate Venezuela's gold reserves.