Venezuela’s Interim President Seeks Release of Frozen Gold Reserves for Earthquake Recovery
Venezuelan interim President Delcy Rodríguez has formally requested the release of 30 tons of frozen gold reserves held at the Bank of England, according to a statement cited by AFP. The move aims to fund reconstruction efforts following two devastating earthquakes that struck the country in June 2026, killing at least 3,800 people and displacing thousands.
The Earthquake and Its Aftermath
The earthquakes, described as a “double quake” due to their rapid succession, measured 7.2 and 7.5. They caused widespread destruction, including the collapse of dozens of buildings and significant damage to infrastructure. Rodríguez emphasized that the gold, frozen under UK sanctions, is critical for rebuilding communities and restoring services.
“This gold belongs to our people,” Rodríguez stated in a televised address. “We need it to address the earthquake’s impact and rebuild our nation.”
Frozen Assets and Diplomatic Efforts
The gold reserves, held at the Bank of England, have been frozen due to UK sanctions against the Venezuelan government. Rodríguez’s letter to King Charles III marks a direct diplomatic appeal to unfreeze the assets. The request comes amid ongoing negotiations with the International Monetary Fund (IMF), where Rodríguez recently spoke with IMF Director Kristalina Georgieva about accessing frozen funds.
Economic Rebuilding and International Context
The earthquake further strained resources. Rodríguez’s request aligns with broader efforts to unlock foreign assets.
FAQ: Understanding the Gold Release Request
Why is Venezuela seeking the gold?
Venezuela’s government claims the 30-ton gold reserve is essential for earthquake recovery. The funds would support infrastructure rebuilding, job creation, and social programs, according to Rodríguez.
What role does the UK play?
The UK froze the gold as part of sanctions. Unfreezing the assets would require UK approval.
Did you know? The Bank of England holds gold reserves, including those of Venezuela.
Pro tip: For updates on Venezuela’s economic policies, follow the IMF’s official website or AFP’s coverage of Latin American affairs.
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