The government and opponents of Venezuela are nearing an agreement to transfer the country’s central bank gold reserves worth around four billion dollars from the Bank of England to the Federal Reserve Bank of New York. The Financial Times reported this on Friday, citing four sources familiar with the matter.
The proposed deal involves about 31 tons of gold bullion and would give legal control of it to the interim government of Delcy Rodríguez, but would not allow for immediate sale. The reserves could be used as collateral for government borrowing, including for reconstruction efforts following the two earthquakes in June.
The agreement would end a seven-year dispute that began in 2019, when the United States, Britain and several other governments recognized Juan Guaidó as Venezuela’s legitimate president.


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