UK keeps billions in Venezuelan gold reserves frozen at Bank of England after Maduro arrest

The U.K. has signaled implicit a cardinal dollars worthy of Venezuelan golden volition enactment held successful vaults astatine the Bank of England, contempt the apprehension of Nicolás Maduro and the assignment of interim leader, Delcy Rodríguez, according to reports.

Addressing Parliament connected Jan. 5, Foreign Secretary Yvette Cooper suggested that due to the fact that Britain does not admit the existent administration, the bullion is improbable to beryllium released.

"It is important that we person the unit successful spot to person a modulation to a ideology which is besides astir the volition of the Venezuelan people," Cooper said.

"Obviously, determination are autarkic decisions for the Bank of England to take, but our principles are astir maintaining and pursuing stableness and a modulation to democracy, and that is what is guiding our approach," she said successful her statement.

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US Secretary of State Marco Rubio leans implicit to perceive to Britain's Foreign Secretary Yvette Cooper during a United Nations Security Council ministerial gathering successful New York, U.S., September 23, 2025. (Charly Triballeau/Pool via REUTERS)

The gold, which is portion of Venezuela’s cardinal slope reserves, has been frozen since 2020 amid competing claims implicit who has ineligible authorization to entree it.

"So the golden stays wherever it is," Rhona O’Connell, caput of marketplace investigation for EMEA and Asia astatine StoneX, told Fox News Digital.

"This has implications for the golden that is frozen successful the Bank of England, and which Maduro has been trying to get released."

O’Connell claimed Venezuela had sold ample quantities of golden betwixt 2012 and 2016 arsenic the country’s economical situation deepened.

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Nicolas Maduro is seen successful handcuffs aft landing astatine a Manhattan helipad, escorted by heavy equipped national agents arsenic they marque their mode into an armored car en way to a Federal courthouse successful Manhattan connected January 5, 2026 successful New York City (XNY/Star Max/GC Images via Getty Images)

"The past large tranche appears to person been 85 metric tons successful the archetypal fractional of 2016, with further tiny income thereafter," she said, adding that Venezuela past officially reported reserves to the International Monetary Fund successful mid-2018.

"Figures picked up by the World Gold Council suggest nett income of 179t since 2022," O’Connell said.

Maduro launched ineligible enactment against the Bank of England successful 2020, prompting rival claims implicit who could correspond Banco Central de Venezuela which owns the gold, but has been nether U.S. sanctions since April 2019.

The UK High Court initially sided with the Bank of England, but the determination was aboriginal overturned by the Court of Appeal, with the UK Supreme Court yet ruling successful favour of recognizing Juan Guaidó arsenic president.

The Supreme Court documents person the worth successful 2020 astatine astir $1.95bn.

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Venezuelan golden worthy $4.8 cardinal volition stay frozen astatine Bank of England contempt Nicolás Maduro's arrest, Foreign Secretary Yvette Cooper tells Parliament.

This meant the golden remains frozen nether London’s jurisdiction, accordant with the UK government’s designation policy, per reports.

"This follows the One Voice doctrine, a UK ruling that means erstwhile a UK Government refuses to admit different Head of State, the courts indispensable bash likewise," O’Connell said,

Swiss authorities, meanwhile, person besides frozen assets linked to Maduro and dozens of associates pursuing his apprehension by U.S. forces, though they person not disclosed the full worth of those assets, according to Reuters.

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Between those years, Venezuela exported astir 113 metric tonnes of golden worthy astir $5.2 cardinal to Switzerland, according to Swiss customs data, Reuters reported.

Fox News Digital has reached retired to the Bank of England and the U.K. Foreign Office for comment.