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Macron, Carney to meet in French Atlantic archipelago in signal to Trump

President Emmanuel Macron visits the French territory of Saint Pierre and Miquelon on Sunday, where he is due to meet Canadian Prime Minister Mark Carney, weeks after United States President Donald Trump posted an image on social media showing the archipelago covered by the American flag. Macron's visit, the first by a French president since Francois Hollande travelled there in 2014, comes as Canada seeks to deepen ties with the European Union amid trade tensions with the US and a deterioration in relations with Washington under Trump. Located off Canada's Atlantic coast, Saint Pierre and Miquelon is France's only remaining territory in North America. French officials said the trip would underscore France's sovereignty over the archipelago and highlight its close relationship with Canada. Read: Pentagon weighs pulling at least 25,000 US troops from Europe...
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Venezuela nears deal to move $4b gold reserve to New York, FT says

The Venezuelan government and the opposition are close to an agreement to transfer the central bank's gold reserves, worth about $4 billion, to the Federal Reserve Bank of New York from the Bank of England, the Financial Times reported on Friday. Reuters could not immediately verify the report, which cited four people familiar with the discussion. Under the proposed deal, the interim government of Delcy Rodriguez would gain legal control of the gold but would be unable to sell the holdings immediately, the report said. Instead, the reserve could be used as collateral for government borrowings, including for reconstruction following June’s twin earthquakes, the newspaper added. A spokesperson for the British foreign office said the government was "not a party in the legal case to determine who should have control of Venezuelan gold held in the Bank of England". United Kingdom Courts and the Bank of England are independent of government, the spokesperson added. Gold could be used to try to counter inflation The Federal Reserve Bank of New York and the Bank of England did not immediately respond to Reuters' requests for comment outside regular business hours. The Venezuelan government and the opposition could not be reached for comment. Last month, Venezuela's National Assembly chief Jorge Rodriguez said the country was working on recovering gold ​reserves held in the Bank ‌of England's underground vaults, in an effort to counter surging inflation. The Bank of England has withheld about 31 metric tons of Venezuelan gold for years, citing its non-recognition of the legitimacy of then ⁠President Nicolas Maduro's government. Read: Venezuela's interim president says US energy deal will last 25 years The BoE's refusal to release the gold goes back to early 2019 when the British government joined dozens of nations in backing then Venezuelan opposition leader Juan Guaido on the basis that Maduro's election win the previous year had been rigged. The bullion has since been the subject of a prolonged legal dispute in British courts, and has not been released despite Maduro's capture by the US in January and a ​request by acting President Delcy Rodriguez to King Charles. “The UK maintains its longstanding position of support for a democratic transition of power in Venezuela which reflects the will of the Venezuelan people,” the spokesperson for the British foreign office said.

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