Venezuela Seeks Release of $4 Billion Gold Reserve Held in UK

Venezuela is seeking to recover its estimated US$4 billion worth of gold reserves held by the Bank of England. The gold, valued at approximately 31 tonnes, was deposited with the bank in 2008 and has been inaccessible due to a long-running legal and political dispute.

The dispute began after the UK refused to recognize Nicolás Maduro's disputed 2018 presidential election victory. Since then, access to the gold remains blocked.

However, following Maduro's capture by U.S. forces in January and his subsequent detention, Venezuela's Acting President Delcy Rodríguez is now pursuing improved diplomatic relations with Western governments while pressing for the release of the country's overseas gold reserves.