Live Updates > Live Update Details
2026-09-18 20:10:09
[Venezuela is reportedly discussing transferring $4 billion in gold reserves from the Bank of England to the Federal Reserve Bank of New York] (1) According to the Financial Times, citing sources familiar with the matter, Venezuela is reportedly discussing transferring its gold reserves from the Bank of England to the Federal Reserve Bank of New York. (2) The Financial Times reported in mid-August that Venezuela wanted the Bank of England to return its gold reserves valued at $4 billion. (3) The report noted that the UK has refused to recognize the Venezuelan government since 2019 and has prevented it from accessing approximately 31 tons of Venezuelan gold stored in the Bank of England's vaults. (4) The report stated: "The Venezuelan government and the country's opposition are close to reaching an agreement to transfer approximately $4 billion in gold reserves held by the central bank from the Bank of England to the Federal Reserve Bank of New York." (5) The article stated that, under the conditions of the discussion, the current Venezuelan government would likely gain legal control over the gold but would not be able to sell it immediately; the funds could be used as collateral for Venezuelan loans, including for recovery and reconstruction following the June earthquake. (6) According to an earlier report by the American news website Axios on September 18, US President Trump plans to hold his first bilateral meeting with Venezuelan interim president Rodriguez during the UN General Assembly meeting in New York next week.
