UK MPs Demand Release of Venezuelan Gold Worth $4.6 Billion

MPs from various parties in the UK have launched a petition to demand that the government release 31 tonnes of Venezuelan gold being illegally withheld by the Bank of England.

The petition, submitted to the Foreign, Commonwealth and Development Office, was signed by thousands of people, including Acting President Delcy Rodríguez, who formally requested the UK to return the gold valued at an estimated $4.6 billion (£3.5 billion).

The gold is needed for reconstruction efforts in Venezuela after devastating earthquakes killed over 6,500 people and injured at least 20,000, causing $50 billion worth of damage.

Venezuela has faced economic sanctions since the election of Hugo Chávez in 2005, with the UK being among the countries that have imposed these restrictions, which have had deadly humanitarian consequences.