World · Latin America · 1 hr ago
Venezuela’s Interim Leader Demands Return of Gold Held in Britain
Venezuela’s interim leader Delcy Rodríguez has demanded the return of the country’s gold held at the Bank of England in Britain.
The reserves are valued at $1.9 billion and have been frozen for more than six years amid a legal dispute.
Venezuela has been unable to withdraw the gold because the UK did not recognize Nicolás Maduro’s 2018 re-election.
The dispute began after opposition leader Juan Guaidó asked the bank to keep the gold from Maduro’s government.
Venezuela and Britain have recently moved to restore diplomatic ties, after years of distance.
A negotiation group involving the interim leadership and part of the opposition agreed to work toward recovering the gold and helping earthquake victims.
Rodríguez has instructed Venezuela’s foreign ministry and attorney general to take steps through the relevant channels to bring the gold home.
Delcy Rodríguez demanded that the Bank of England return Venezuela’s gold reserves.
She said the gold belongs to Venezuelans and instructed government offices to take steps to recover it.
The gold has been frozen amid a dispute involving Britain’s refusal to recognize Nicolás Maduro’s re-election.
The reports give different estimates of its value: TASS says about $4.8 billion, while Folha says $1.9 billion.
Venezuelan political forces and an opposition group agreed to work toward recovering the gold, according to the reports.
- Who
- Venezuela’s interim leader Delcy Rodríguez demanded the return of the gold.
- What
- She called for Venezuela’s gold reserves held by the Bank of England to be returned.
- When
- October 28, according to Folha; October 29, according to TASS.
- Where
- The gold is held in the Bank of England’s vaults in Britain.
- Why
- Rodríguez said the reserves belong to the Venezuelan people. The dispute is linked to Britain’s refusal to recognize Nicolás Maduro’s re-election and a legal battle over the reserves.
This story does not have two clearly opposing sides.
The dispute over Venezuela’s gold emerged after Britain and other countries refused to recognize Nicolás Maduro’s legitimacy as president.
A negotiating group involving the interim leadership and part of the opposition agreed to work toward recovering the gold.
London and Caracas announced plans to appoint ambassadors to their diplomatic missions.
Rodríguez demanded the return of the gold and instructed government offices to take steps toward recovering it.
- Gold held
- About 31 metric tons, according to TASS
- Value estimate
- $4.8 billion, according to TASS; $1.9 billion, according to Folha
- Holder
- Bank of England
- Demanding its return
- Delcy Rodríguez
- Government offices instructed
- Ministry of Foreign Affairs and Prosecutor General’s Office
3 sources
What people are saying
I will not abandon the demand for the Bank of England to return our gold. Enough with their excuses.
this gold belongs to Venezuelan men and women, not the Bank of England
Enough with the excuses