Venezuela's $4 Billion Gold Headed to US Treasury Account

Venezuela's 31 tonnes of gold, worth around $4 billion, has been frozen in a Bank of England vault since 2018. The UK stopped recognizing Venezuela's government at that time due to a standoff between President Nicolas Maduro and opposition leader Juan Guaido.

The gold is now being released, but instead of going back to Caracas, it will be transferred to a US Treasury account in New York. This move has sparked controversy as the funds will be controlled by Washington, rather than Venezuela's central bank.

The release of the gold comes after the capture of Maduro and his wife by US forces on January 3, 2026. The new government, led by Vice President Delcy Rodriguez, has agreed to a permanent audit plan for the spending of the funds, with independent firms checking where every dollar goes.

The money will be used for rebuilding after the recent earthquake that hit Venezuela, which killed over 6,000 people. This includes funding for housing, health centers, and schools.