US takes control of Venezuela’s frozen gold funds

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Venezuela’s 31 tons of gold at the Bank of England (worth about $4 billion) is still frozen there. Government and opposition have agreed to seek its release for earthquake reconstruction. The plan routes the money through US Treasury accounts with international audits. It is not a completed transfer or outright confiscation yet.

30 tons of Venezuelan gold, a bargaining chip between Chavismo and the opposition

The likelihood is growing that an agreement will be reached to use Venezuelan assets frozen abroad as part of talks, mediated by the United States, between government and opposition delegations that began earlier in August. Several figures involved in the negotiations have confirmed the information. In particular, the republic’s gold bars held at the Bank of England — about 31 tons, equivalent to $4 billion — could be released; they have remained frozen under the custody of the British regulator. The dispute erupted after opposition leader

 

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