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[INTERNATIONAL] · Venezuela, United Kingdom, United States · 27 sources

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Venezuela nears deal to move $4B gold reserves to New York

Venezuela's government and opposition are reportedly nearing an agreement to transfer approximately 31 metric tons of gold reserves, valued at roughly $4 billion, from the Bank of England to the Federal Reserve Bank of New York.

Under the proposed arrangement, the interim government led by Delcy Rodriguez would obtain legal control over the assets. However, the agreement would include restrictions preventing the immediate sale of the gold. Instead, the reserves could serve as collateral to secure international loans, potentially providing much-needed funding for national reconstruction following the devastating earthquakes in June.

The potential deal, supported by the United States, aims to resolve a seven-year legal dispute that began in 2019. The impasse originated when several nations recognized Juan Guaidó as the legitimate president, leading to a battle over the control of the Central Bank of Venezuela's assets in British courts. While the transfer would grant legal ownership to Caracas, opposition groups have demanded strict oversight and monitoring mechanisms to ensure the gold is used appropriately.

Entities

Bank of England · Delcy Rodríguez · Donald Trump · Federal Reserve Bank of New York · Financial Times · Juan Guaido · United States · Venezuela

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