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In a significant move, the Reserve Bank of India has brought back 100 tonnes of gold to its domestic vaults for the first time since early 1991. RBI bringing back chunks from its gold reserves in the Bank of England reflects India’s economic strength and confidence. In response to the devastating economic situation, the Chandra Shekhar government decided to pledge …

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Congress Bank Accounts 'Frozen': How Financial Coercion Became a Political Tool

In Venezuela, under the presidency of Nicolás Maduro, the freezing of bank accounts of political opponents has also been used as a method to suppress Opposition movements. In January 2019, amid a political crisis in Venezuela, Juan Guaidó, the leader of the Opposition, invoked constitutional provisions to declare himself interim president, challenging Maduro's legitimacy. In Turkey, following the failed coup …

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A British judge Thursday refused to give Venezuelan leader Nicolás Maduro control of nearly $2 billion in gold stashed in a Bank of England vault, ruling that it would be unlawful as Britain does not recognize him as president of the South American nation. But Britain’s central bank has refused to hand it over to Maduro’s socialist administration because London …

Gold in London bank sparks battle between Venezuelan rivals

CARACAS, Venezuela — The political battle over control of Venezuela has turned to a $1.8 billion stack of gold bars sitting in the Bank of England’s vault in London, where a judge is expected to decide soon on who has the rightful claim to the bullion. But the central bank for the United Kingdom, whose government recognizes Venezuelan opposition leader …