Venezuela's Interim President Appeals to King Charles III for Release of Gold Reserves

Venezuela’s interim government has sent an official letter to King Charles III requesting the release of approximately 30 tons of gold reserves held at the Bank of England. Interim President Delcy Rodríguez stated that the assets, frozen due to sanctions, are urgently needed to finance reconstruction efforts following a catastrophic earthquake that struck the country on 24 June.

“The gold belongs to our people and must be used to address the horrific and tragic consequences of these two earthquakes,” Rodríguez said during a video conference with officials managing refugee camps.

Rodríguez, who assumed the interim presidency in January, emphasised that the government is also pursuing the recovery of other Venezuelan assets frozen abroad. She revealed ongoing discussions with IMF Managing Director Kristalina Georgieva to release approximately US$3.568 billion in Special Drawing Rights (SDRs) currently withheld from Venezuela.

The earthquake has claimed at least 3,800 lives and destroyed dozens of buildings, leaving thousands homeless. The UK courts previously refused to transfer control of the gold reserves to Nicolás Maduro’s administration, ruling that his government was not recognised as the legitimate authority.

Venezuelan Foreign Minister Iván Gil also urged the release of all frozen state assets during a virtual meeting with the United Nations Office for the Coordination of Humanitarian Affairs (OCHA). “We have Venezuelan state accounts in various parts of the world that have been frozen due to illegal sanctions,” Gil said.

UN Deputy Secretary-General for Humanitarian Affairs Tom Fletcher announced the launch of a US$296 million emergency appeal to support relief operations in Venezuela. International donors have already committed over US$600 million in aid, with the United States pledging more than US$386 million, including over 400 metric tons of food, hygiene supplies, and shelter materials distributed through the Red Cross, UNICEF, and the World Food Programme.

Despite this, the UN estimates total physical damage from the earthquake at approximately US$37 billion, meaning current international assistance only covers immediate emergency needs such as healthcare and temporary shelter.