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The Bank of England's $5bn Venezuelan gold problem
Posted
January 19, 2026
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January 19, 2026
43,796
516
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7:22Now PlayingThe US seizure of Venezuelan president Nicolás Maduro has renewed a long-running dispute over Venezuela’s gold held at the Bank of England.
Venezuela has about 31 tonnes of gold stored in London, worth at least $1.95bn in 2020 and likely much more today.
The gold has been frozen since 2018, after a disputed election led the UK and other countries to stop recognising Maduro as Venezuela’s legitimate leader.
Britain blocked the release of the bullion amid pressure from the US and Venezuelan opposition figures.
Caracas sued in London in 2020 to regain access to the gold, but competing claims from the opposition, previously recognised by the UK, left the case unresolved. LBC's Joseph Draper reports.
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#venezuela #josephdraper #LBC #debate #trump #maduro
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