Venezuela Sues for £3.5B Gold Cache in London

Venezuela's government and opposition have reached an agreement to jointly pursue the return of $4.4 billion worth of gold held at the Bank of England.

The gold, valued at approximately 31 tonnes, has been frozen since 2018 due to a recognition dispute between the two sides.

The plan aims to help finance reconstruction efforts following the devastating June earthquakes that killed over 6,000 people and damaged homes, hospitals, and infrastructure.

According to officials, they intend to seek the recovery of Venezuela's international reserve assets in London while establishing safeguards over how the funds would be used.