31 tons of Venezuelan gold, currently valued at around 4 billion dollars and held for years in the vaults of the Bank of England, could be transferred to New York as part of an agreement being negotiated by the interim government of Venezuela and opposition sectors.
The negotiation was revealed this Friday by the Financial Times, which cited four people familiar with the discussions, and was later picked up by Reuters, which clarified that it could not independently verify the information.
According to the scheme on the table, the reserves of the Central Bank of Venezuela would move from the Bank of England to the Federal Reserve Bank of New York, although the eventual transfer would not mean that the interim government of Delcy Rodríguez could freely access the gold bars.
The agreement would grant him legal control over the assets, but would prevent, at least initially, their direct sale.
Instead, gold could be used as a guarantee to obtain state financing, including funds allocated for the reconstruction of areas affected by the earthquakes that struck Venezuela in June.
The opposition has called for oversight mechanisms and restrictions on the use of resources. A person involved in the negotiations explained to the Financial Times that Rodríguez would not have direct access to the gold once deposited in the United States and that any use would be subject to controls.
The 31 tons remain trapped in a prolonged political and judicial dispute in the United Kingdom that dates back to the British recognition of Juan Guaidó as interim president of Venezuela in 2019.
In December 2021, the British Supreme Court ruled that the courts must , within a litigation between the rival boards of the Central Bank of Venezuela appointed by Guaidó and Nicolás Maduro to determine who could exercise control over the gold.
Since then, various boards of directors of the Central Bank of Venezuela have claimed before British courts the right to control the reserves, while the Bank of England has kept the bullion immobilized, awaiting a legal resolution.
The scenario changed in 2026 after Maduro was captured by U.S. forces, leading to Delcy Rodríguez assuming the interim presidency, amid a gradual rapprochement between Caracas and Washington.
In July, Rodríguez sent a letter to King Charles III requesting the release of Venezuelan reserves held in London to be allocated for the country's reconstruction following the earthquakes.
The request, however, was not enough to unlock the assets.
The British government has stated that it is not part of the judicial process responsible for determining who can exercise control over the gold, while the Bank of England remains subject to the decisions of the courts.
An important step occurred in August when representatives of the interim government and the National Assembly elected in 2015 agreed to work together to try to recover the reserves.
The understanding included commitments to transparency, traceability, and oversight regarding the eventual use of those resources.
The possible transfer of gold to New York coincides with a moment of greater rapprochement between the United States and Venezuela.
This same week, President Donald Trump removed Venezuela from the category of countries that have "demonstrably failed" to meet their international commitments against drug trafficking, a classification it had held since 2005.
Venezuela continues, however, to be included in the broader list of countries considered important transit or production points for illicit drugs.
Trump and Rodríguez could also have their first face-to-face meeting next week in New York, coinciding with the United Nations General Assembly, although the meeting has not yet been definitively confirmed.
The operation currently being negotiated would be different from another Venezuelan gold movement that took place months ago.
In March, the United States received a shipment of Venezuelan gold valued at about 100 million dollars, the first precious metals exchange between the two countries in over two decades.
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