TRADE UNION LEADERS BACK CALL FOR BRITAIN TO GIVE VENEZUELA BACK ITS GOLD
VENEZUELA SOLIDARITY CAMPAIGN
PRESS RELEASE – JULY 18, 2027
Leading British trade unionists have backed the campaign for the UK to give back over 30 tonnes of Venezuelan gold to Venezuela, which is currently being held in the Bank of England, despite the Latin American nation requesting its return, following the horrific earthquakes that have devastated the country. The Gold currently has a value of £3.5bn (or US $4.74 bn.)
The support from trade unionists comes as over 14,000 people have now signed a petition urging for the gold to be returned, and numerous MPs have also backed the campaign.
Supporting the campaign, the General Secretary of UNISON (the largest trade union) Andrea Egan said, “The UK government must work to ensure that Venezuela’s gold deposits in the UK can be used to urgently rebuild homes and public services in Venezuela, for the benefit of all its people.”
Public and Commercial Services Union (PCS) General Secretary Fran Heathcote also supported the campaign, saying “After the devastating earthquakes in Venezuela and terrible loss of life, the Bank of England must release Venezuela’s gold reserves to assist with the relief efforts. The Government should also reflect on its lethal decision to slash international aid, which has jeopardised lives around the world.”
University and College Union (UCU) General Secretary Dr. Jo Grady added, ”Our solidarity goes out to the people of Venezuela and all those who have lost friends and family in the devastating earthquake that has hit the country.”
“Given the urgent need to support Venezuela’s recovery, and in light of how expensive reconstruction will be, it is more urgent than ever that the British Government stands up to Trump and releases the billions of pounds of Venezuelan gold it is holding.”
Paul Fleming, Equity General Secretary said, “The natural disaster which has hit Venezuela should not be compounded by the profound injustice of holding their money hostage in the vaults of the Bank of England,” adding that “The UK government’s longstanding approach to Venezuela has been irrational and cruel – unless this gold is released, our policy will keep compounding the crisis the Venezuelan people now face.”
Fire Brigades Union (FBU) General Secretary Steve Wright explained why they were backing the call, saying “As firefighters our instinct is to help those in need, that’s why we’re calling on the British government to urgently return the Venezuelan gold held in the Bank of England.
“This money should be used for humanitarian relief, reconstruction and to aid the heroic efforts of emergency workers in Venezuela.”
Transport Salaried Staffs’ Association (TSSA) General Secretary Maryam Eslamdoust commented, “Venezuela’s gold should be returned to Venezuela. Assets held in the UK should not become political leverage while people are suffering. If those reserves are needed to finance earthquake relief and recovery, they should be released so Venezuela can meet the enormous human and economic cost of the disaster.”
The Bakers, Food and Allied Workers’ Union (BFAWU) General Secretary Sarah Woolley added, “Venezuela’s gold should be returned because it is the sovereign property of the Venezuelan people. No country should use another nation’s reserves as a political bargaining chip, justice means giving Venezuela back what is rightfully theirs.”
The National Education Union International Committee member Louise Regan said, “The scenes of devastation following the earthquakes in Venezuela have moved people across the world. Venezuela’s gold should be being used to help Venezuelans, not sat in the Bank of England. Return the gold today.”
General Federation of Trade Unions (GFTU) General Secretary – and Venezuela Solidarity Campaign (VSC) Vice-Chair – Gawain Little noted, “Britain’s complicity in illegal economic warfare against Venezuela must come to an end. It is time for Britain to hand back illegally seized Venezuelan gold.”
Welcoming the support shown by trade unions for the campaign, VSC chair Tony Burke said, “Venezuela needs countries internationally to assist its relief, recovery and reconstruction after the devastating earthquakes. Britain needs to do its bit – and that means giving the gold back now.“
NOTES TO EDITORS: · Over 14,000 people have now signed a petition urging the UK to give back over 30 tonnes of Venezuelan gold to Venezuela, which is currently being held in the Bank of England, despite the Latin American nation requesting its return. The Gold currently has a value of £3.5bn (or US $4.74 bn.) The petition can be viewed at https://www.change.org/p/keir-starmer-give-venezuela-back-its-gold
· The petition reads in full: “We condemn the decision of the Bank of England to continue to refuse to return to Venezuela billions of dollars of its gold deposited there, which has a value of at least £3.5bn (or US $4.74 bn).
This part of the tough international economic sanctions on Venezuela from the US, UK and other countries, which have caused immeasurable suffering to the people of that country.
The Venezuelan gold deposited in the Bank of England is the property of the Venezuelan people, not British banks. Preventing its return, only hurts the poorest in Venezuelan society. We call on the British government to act honourably and make clear to the Bank of England that this gold must be returned to its rightful owners – the Venezuelan people.” · Historical background on the Bank of England holding Venezuela’s gold can be found here. · In May 2026, Government Minister William Castillo made a major presentation on the effect of sanctions on Venezuela, arguing that the “call and demand from Venezuela as a nation, not just as a government [is] that all sanctions against the country be lifted,” and cited the example of the gold needing to be returned, arguing that “It was worth $2 billion when it was frozen. Today it is worth $4 billion due to the appreciation of gold.”
· Following the recent earthquakes, In July 2026, Venezuela’s Acting President Delcy Rodriguez wrote to the UK asking the gold to be returned.