Russians Agree To Gold Salvage
A British company will attempt to salvage more than £50 million in gold from the wreck of the cruiser Edinburgh,
sunk in the Barents Sea during the 1939-45 war.
After a fortnight of talks with Whitechapel officials and salvage experts, a Soviet delegation has agreed that a British company will try to recover the five tons of gold aboard Edinburgh, torpedoed by U-boats and scuttled about 170 miles north of Murmansk.
The gold was then worth about £1 million and was Soviet payment for British weapons and equipment.
Under the insurance terms the Soviet Union has claim to two thirds of the value of the cargo.
The Edinburgh was believed to be lying in about 900 feet with 30 bodies still in the wreck.