Venezuela is nearing a deal to move $4 billion (£2.9 billion) in gold from the Bank of England to the Federal Reserve Bank of New York after a years-long legal tussle, it has been reported.
Led by acting president Delcy Rodriguez, the government and the opposition reached a rare consensus in August - to work together to recover 31 tonnes of precious metal locked away in London’s underground vaults.
Under the terms of the agreement, the Interim President would gain legal control over the bullion, but would not be unable to sell it immediately, the Financial Times reported.
“The gold is going to the US but Delcy won’t have direct access to it,” said an opposition figure reportedly involved in the ongoing negotiations . “It will be supervised and restricted.”
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