WORLD IN BRIEF: Netherlands shifts gold to London, Zelensky warns airlines over Russian airspace, Mozambique and Zimbabwe expand fuel pipeline and other stories
US pounds Iran as Tehran strikes back at regional bases The United States and Iran have exchanged their heaviest attacks read more WORLD IN BRIEF: Netherlands shifts gold to London, Zelensky warns airlines over Russian airspace, Mozambique and Zimbabwe expand fuel pipeline and other stories
The Dutch central bank, DNB, has moved 86 tonnes of gold from the US and Canada to London, citing increasing geopolitical unrest. According to DNB, the gold was relocated to strengthen its resilience and preparedness. The transfer, which took several months to complete, involved moving 27 tonnes of gold bars from New York and Ottawa to the Netherlands, and then a similar quantity and quality to London.
The gold was transported between March and August, with part of the process involving selling the gold in New York and repurchasing it in London. DNB president Olaf Sleijpen said the move was necessary to prepare for potential crises. The Bank of England will now hold the gold, which can be traded more easily in a crisis situation.
The Netherlands' move comes amid an ongoing trade dispute between the US and Canada, with both countries announcing fresh tariffs on each other after failed trade talks. There were also reports of an exchange of attacks between the US and Iran, with Tehran striking back at regional bases. Ukrainian President Zelensky has warned airlines about flying over Russian airspace, while Mozambique and Zimbabwe have expanded a fuel pipeline.
Brief written by urgent.news from BusinessDay Nigeria, BBC Business — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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