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Venezuela Struggles to Access $4 Billion in Gold for Earthquake Recovery

KVIA•Friday, July 24, 2026 at 10:00 AM•CNN Newsource

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Venezuela is in a complex battle to regain access to 31 tons of gold, valued at approximately $4 billion, currently held by the Bank of England. The Venezuelan government, led by acting President Delcy Rodríguez, argues that the gold is crucial for recovery efforts following devastating earthquakes that resulted in thousands of deaths and a significant economic downturn. The gold has been frozen since the UK and other nations refused to recognize former President Nicolás Maduro's legitimacy after the disputed 2018 election. With Maduro now detained in the U.S., Rodríguez is seeking to restore diplomatic relations and has even appealed to King Charles III for the gold's release. However, the UK government has yet to clarify its stance on the matter.

Key Details: • 31 tons of gold worth up to $4 billion are held by the Bank of England. • The gold has been frozen since the UK did not recognize Maduro's presidency post-2018 election. • Delcy Rodríguez has taken over leadership and is pushing for the gold's release for earthquake recovery. • Venezuela recently secured $346 million from the IMF for reconstruction efforts.

gold venezuela diplomacy earthquake bank-of-england

People & Organizations

VenezuelaNicolás MaduroKing Charles IIIInternational Monetary FundDelcy RodríguezYvette CooperAndy BurnhamEd MilibandBank of England

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