Venezuela's 31 tonnes of gold have sat in the Bank of England through two rival governments, a captured president and an earthquake

The Central Bank of Venezuela holds about 31 tonnes of gold in the Bank of England's vaults. After the UK recognised the opposition leader Juan Guaidó as president, two rival boards of the central bank, one appointed by Nicolás Maduro and one by Guaidó, sent conflicting instructions. The Bank of England released nothing. The UK Supreme Court ruled on 20 December 2021 that English courts must follow the UK government's recognition. On 29 July 2022 Mrs Justice Cockerill held that English courts need not recognise Venezuelan Supreme Tribunal rulings against Guaidó's board, and found for that board. In January 2026 US forces captured Maduro, and Delcy Rodríguez became interim president. After earthquakes on 24 June 2026, she said in July she would write to King Charles III asking for the gold to fund reconstruction. On 12 August 2026 her government and part of the opposition signed an agreement to recover the gold, with audit mechanisms, for earthquake relief. In September 2026 Reuters reported a proposed deal to move the reserves to the Federal Reserve Bank of New York under the interim government's control, with sale barred at first. As of 19 September 2026 nothing was signed. The Bank of England was waiting for a UK court order naming which authority controls the account. Status: unresolved in the English courts as of September 2026.