Venezuela's Frozen Gold to Be Released from Bank of England

Seven years after Venezuela's gold was frozen in a London court, the standoff may be nearing its end. The Financial Times reported that Caracas' interim government and parts of the opposition are negotiating to release the 31 tons from the Bank of England's vaults.

The plan would have Rodríguez gain legal title to the gold, but it wouldn't be sold or repatriated immediately. Instead, it could serve as collateral for state borrowing, including funds for rebuilding areas damaged by recent earthquakes.

A figure with direct knowledge of the talks described Rodríguez's access to the gold as 'restricted and supervised' once it reaches American soil.