Venezuela’s UK-Held Gold Could Be Routed Through US Treasury Accounts

Venezuela’s gold reserves held at the Bank of England could be released and routed through US Treasury accounts under an agreement supporting earthquake reconstruction. The proposed arrangement would direct funds toward housing, health centers, and schools, with international firms conducting permanent audits. Officials say transparency and spending controls would help prevent misuse. The reserves include approximately 31 metric tons of gold, potentially worth about $4 billion, along with other assets. The bullion has remained locked in a legal dispute involving competing Venezuelan authorities since 2018.