UK Shelves $7.4 Billion Gold Treasure Hunt Amid Dispute

The UK has put on hold its plan to retrieve an estimated $7.4 billion (5.5 billion pounds) worth of gold treasure from the wreck of a British ship off the coast of Gibraltar. The decision is reportedly due to concerns that the dispute with Spain over the territory's status could escalate further.The wreck of the British ship Sussex, which sank in 1694 near the Strait of Gibraltar, is believed to contain up to 10 tons of gold coins.The gold is thought to have been used to finance the military campaigns of Savoy Duke Victor Amadeus II during the War of the Grand Alliance. If discovered, the treasure's total value could reach approximately $7.4 billion in today's value.The postponement of the treasure hunt is said to be a precautionary measure to avoid exacerbating the existing dispute with Spain over the territory's status.