Venezuela withdraws 160 tons of gold from the US

In early 2012, the Venezuelan government announced a plan to repatriate 160 tons of gold worth about nine billion dollars held in the United States. President Hugo Chavez noted that if the ingots were not returned to Venezuela in the shortest possible time, they could become hostages of Washington and be used as a tool of pressure. Calculations regarding the volume and value of the gold were published in official sources, although details of the plan's implementation have not yet been clarified.

Experts note that the escalation of geopolitical conflicts and the sanctions environment have contributed to the outflow of gold from the United States. The question of Washington's willingness to return its assets remains open.

It is reported that further steps will depend on the terms of the deal and international regulation regarding trade conflicts.

Context

Venezuela began an active gold repatriation program in 2010, and in 2012 this step became its largest manifestation.