Venezuela nears deal to move $4 billion gold reserve to New York, FT says
The proposed transfer would give Venezuela legal control of about $4 billion in bullion and let it use the reserves as borrowing collateral.
- On Friday, the Financial Times reported that the Venezuelan government and opposition are nearing an agreement to transfer $4 billion in gold reserves from The Bank to the Federal Reserve Bank.
- The BoE has withheld 31 metric tons of gold since 2019, citing non-recognition of President Nicolas Maduro's government after backing opposition leader Juan Guaido in a prolonged legal dispute.
- Despite President Nicolas Maduro's capture in January, the bullion remained locked until President Delcy Rodriguez requested its release from King Charles, according to reports.
- Under the proposed deal, President Delcy Rodriguez would gain legal control over the assets but cannot sell them immediately; the gold would serve as collateral for reconstruction efforts following the twin earthquake.
- Reuters could not immediately verify the report, as the Federal Reserve Bank, The BoE, and the British Foreign Office did not respond to requests for comment outside regular business hours.
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Federal Bank of NY The interim government of Venezuela and the opposition sitting at the dialogue table are about to close an agreement to transfer the Central Bank's gold reserves, valued at about $4 billion (approximately 31 metric tons), from the Bank of England in London to the Federal Reserve Bank of New York, as reported this Friday by the British daily Financial Times. If the interim government headed by Delcy Rodriguez would materialize,…
The Venezuelan government and the country's opposition are close to reaching an agreement to transfer the central bank's gold reserves, worth about $4 billion, from the Bank of England to the Federal Reserve Bank of New York, the Financial Times reported, quoted by BTA. The deal under discussion would give Delcy Rodriguez's interim government legal control over the gold but would not have the right to immediately sell the reserves, four people f…
The Venezuelan Interim Government and the U.S.-supported opposition may soon conclude an agreement to transport 31 tons of Venezuelan gold worth $4 billion from the Bank of England to the Federal Reserve Bank of New York, writing Financial Times with reference to sources.
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