Venezuelan gold in England to be deposited in US Treasury for earthquake relief

Venezuelan gold reserves currently held by the Bank of England will be transferred to accounts at the U.S. Department of the Treasury. This move is part of a plan to address the emergency needs following the seismic events of June 24th.

Deputy Ramón López, a member of the 2015 National Assembly delegation involved in dialogue with the government, explained that the release of these assets is contingent upon comprehensive planning and control mechanisms. The funds are specifically designated for housing, health centers, and schools in the earthquake-affected zones. An ongoing audit plan involving international companies will ensure the gold is used appropriately.

“

It is not a trade, giving the gold for the Supreme Court, it is not true... they are not linked.

López clarified that this agreement does not constitute an exchange for reforms within Venezuela's Supreme Court of Justice (TSJ). "It is not a trade, giving the gold for the Supreme Court, it is not true... they are not linked," he stated. Mechanisms are in place to prevent any diversion of funds intended for reconstruction.

The agreement between the 2015 AN delegation and the current government aims to utilize Venezuelan assets held in England to aid earthquake victims. It also establishes transparency, traceability, and auditing procedures for resource management. This initiative is part of a broader dialogue that has included discussions on strengthening democracy, particularly concerning the judicial and electoral powers.

“

We do not intend to be co-governing, but we do intend to truly alleviate problems that a people who have been suffering for many, many years definitely has.