Venezuela’s interim government has formally appealed to the United Kingdom to release billions of dollars’ worth of Venezuelan gold held in the vaults of the Bank of England, arguing the funds are urgently needed to support recovery efforts following the country’s devastating twin earthquakes.
Acting President Delcy Rodríguez announced that she had sent a letter to King Charles III requesting the release of approximately 31 tonnes of Venezuelan gold currently held by the Bank of England. The government says the assets would be used to finance reconstruction, restore critical infrastructure and provide humanitarian assistance to communities devastated by the June 24 earthquakes.
The appeal comes as Venezuela continues to grapple with one of the worst natural disasters in its recent history. Official figures released this week show the death toll has climbed to 3,811, while 16,740 people have been injured and 17,907 residents remain homeless. Rescue and recovery operations are ongoing in several of the hardest-hit regions as authorities work to restore essential services and clear debris.
Rodríguez said Venezuela possesses sufficient overseas assets to help finance its own recovery if international restrictions preventing access to them are eased. In addition to appealing to the British monarch, she confirmed that discussions have also been held with the International Monetary Fund (IMF) regarding the possible release of financial resources for humanitarian purposes.
The gold has been at the center of a long-running legal and political dispute between Caracas and London. The Bank of England has retained control of the bullion for several years following legal challenges over which Venezuelan authority has the right to access the country’s overseas assets. Previous court rulings in the United Kingdom prevented the release of the reserves while questions over the country’s political leadership remained unresolved.
The renewed request comes amid growing international concern over Venezuela’s humanitarian situation. The earthquakes destroyed homes, hospitals, roads and public infrastructure, leaving thousands of families dependent on emergency shelters and humanitarian aid. International agencies estimate reconstruction costs will run into tens of billions of dollars, placing enormous pressure on the country’s already fragile economy.
While some international sanctions have been temporarily eased to facilitate humanitarian assistance, Venezuelan officials argue that broader access to frozen overseas assets would significantly accelerate rebuilding efforts. They maintain that the gold reserves belong to the Venezuelan people and should be made available solely for disaster recovery and humanitarian relief.
The United Kingdom has not publicly responded to the latest appeal. Any decision to release the gold would likely involve both legal and diplomatic considerations, given the lengthy dispute surrounding ownership and control of the reserves.
As recovery efforts continue, the outcome of Venezuela’s request could become a critical factor in determining how quickly the country can rebuild communities devastated by one of the deadliest disasters in its modern history.
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