An Early Day Motion has been tabled in Parliament calling on the Government to release Venezuela’s gold reserves held at the Bank of England.
EDM 474, tabled by Richard Burgon MP on 29 June 2026,, expresses deep concern that the gold, reportedly worth around £3 billion, remains frozen while Venezuela reels from a catastrophic earthquake that has claimed over 5,000 lives and displaced over 20,000 people.
The motion expresses concern that the funds remain inaccessible due to an ongoing political dispute over which Venezuelan representatives the UK recognises as the country’s legitimate government. It calls on the Government to take urgent steps to facilitate the release of the gold so it can be used for humanitarian relief and reconstruction.
To date, 30 MPs have signed the motion.
A tool has been launched allowing constituents to email their MP asking them to support the motion.
The full text of the EDM is detailed below.
That this House expresses its deepest condolences to the people of Venezuela following the devastating earthquake that has caused widespread loss of life and destruction, with reports of over 1,000 deaths, thousands more injured and displaced, and many tens of thousands of people missing; welcomes the Government’s initial provision of humanitarian assistance to Venezuela, including the deployment of specialist search and rescue personnel; is concerned that Venezuela’s gold reserves, held at the Bank of England and now reportedly worth around £3 billion, remain inaccessible to address the catastrophic human impact of the earthquake and to support reconstruction because of an ongoing political dispute over which Venezuelan representatives the UK recognises as the country’s legitimate government; believes that, in the face of such an overwhelming catastrophe, every available resource should be directed towards humanitarian relief, reconstruction and the recovery of affected communities; and therefore calls on the Government to take urgent steps to facilitate the release of Venezuela’s gold reserves held at the Bank of England so that they can be used to support humanitarian relief and the reconstruction of areas devastated by the earthquake.