Caracas (OrinocoTribune.com)—On Tuesday, Venezuela and the United Kingdom agreed to upgrade their diplomatic relations, with London announcing plans to restore ambassador-level representation in Caracas after years of strained ties and disputes over Venezuelan sovereign assets seized and held by the United Kingdom.
The Venezuelan Ministry for Foreign Affairs announced that the agreement followed talks between officials from both countries. The ministry said the new stage would be guided by constructive dialogue, mutual respect, and the sovereign management of resources belonging to the Venezuelan people.
Although neither government announced an agreement concerning the approximately 31 metric tons of Venezuelan gold held by the Bank of England, Caracas’ repeated references to recovering sovereign assets placed the long-running dispute at the center of the diplomatic rapprochement.
“This new stage will be marked by constructive dialogue, based on mutual respect and oriented towards the sovereign management of the assets of the Venezuelan people, with a view to contributing to the recovery efforts and the integral development of the country,” the Venezuelan statement read.
Caracas also reaffirmed its willingness to revitalize its historic ties with the British people and government and expand cooperation “based on the principles of national sovereignty, reciprocity, and respect for international law.”
The British government confirmed the decision in a written statement to Parliament, announcing that the two countries intend to upgrade their representation to the ambassadorial level.
London described the move as part of “broader international reengagement” and said it would improve Britain’s ability to support reconstruction following the devastating June 24 earthquakes, assist British nationals, and promote British commercial interests in Venezuela.
However, the British statement retained London’s interventionist call for a “democratic transition” and said the diplomatic upgrade did not alter its assessment of Venezuela’s 2024 electoral process. The Venezuelan statement, by contrast, emphasized sovereign equality, noninterference, reciprocity, and respect for international law.
Venezuela’s Acting President Delcy Rodríguez thanked National Assembly President Jorge Rodríguez for contributing to the diplomatic effort during his recent visit to the United Kingdom.
“I thank Dr. Jorge Rodríguez, president of the National Assembly, for joining efforts and taking steps in favor of the resumption of diplomatic relations between Venezuela and the United Kingdom during his recent visit to that country,” she wrote.
The acting president attached a video to this message in which the head of Venezuela’s parliament explained the objectives and results of his meeting with Harriet Thompson, director for the Americas and Small Island Developing States at the UK Foreign, Commonwealth, and Development Office.
British Chargé d’Affaires Colin Dick also stated that his country maintains a long-term commitment to Venezuela.
The British Embassy subsequently announced that the diplomatic upgrade would allow the two countries to expand cooperation on economic recovery and reconstruction following the earthquakes. Its statement also repeated the imperialist and interventionist language that London has repeatedly used whereby it referred to a so-called political transition.
Venezuelan Deputy Foreign Minister for Europe and North America Oliver Blanco welcomed Britain’s decision while emphasizing Caracas’ interest in recovering sovereign assets held abroad.
“We reaffirm our willingness to deepen a respectful and constructive dialogue, to promote cooperation in areas of common interest to our countries, and to advance the restoration of assets that legitimately belong to Venezuelans,” Blanco stated.
The issue of Venezuela’s gold remains unresolvedThe diplomatic announcement comes amid renewed efforts by Venezuela to recover approximately 31 metric tons of gold—currently worth more than US $4 billion—illegally seized by the Bank of England.
The British financial institution began refusing Venezuela access to the bullion in 2018. The dispute intensified in 2019, when London joined Washington’s failed regime-change operation by recognizing former deputy Juan Guaidó’s self-proclaimed “interim government.” That recognition allowed parallel officials appointed by Guaidó to claim control over Venezuelan state assets abroad.
Successive Venezuelan administrations have repudiated the continued withholding of the gold as an illegal seizure of sovereign property. British courts relied on the UK government’s recognition of Guaidó to prevent the board of the Central Bank of Venezuela, appointed by President Nicolás Maduro, from accessing the bullion.
On July 8, Acting President Rodríguez announced that she would formally request the intervention of King Charles III so that the assets could be used to address the catastrophic consequences of the two June 24 earthquakes.
“That gold belongs to our people, and that gold must be used to address the terrible, tragic consequences of this double earthquake,” Rodríguez said. Five days later, she confirmed that the communication had been sent.
Government and opposition negotiators subsequently agreed to work toward recovering the reserves to finance housing, healthcare, and other reconstruction projects. This rare convergence reflected broad rejection across Venezuela’s political divide of London’s continued seizure of the country’s assets.
Reports published in August, citing opposition negotiator Ramón López, claimed that the gold or its proceeds would be placed under US Treasury control and subjected to audits by international firms before being disbursed for reconstruction projects.
Venezuelan and British authorities have not publicly confirmed those reported arrangements. Tuesday’s statements likewise did not specify whether the gold was formally included in the negotiations or whether London had agreed to release it. The recovery of the bullion will therefore constitute a decisive test of whether the diplomatic upgrade produces a relationship based on the sovereignty and reciprocity invoked by Caracas.
Full unofficial translation of the Venezuelan statement
The Government of the Bolivarian Republic of Venezuela announces that, following talks held between authorities of both countries, it has been agreed to raise the level of bilateral relations with the Government of the United Kingdom of Great Britain and Northern Ireland.
This new stage will be marked by constructive dialogue, based on mutual respect and oriented towards the sovereign management of the resources of the Venezuelan people, with a view to contributing to the recovery efforts and the integral development of the country.
Venezuela reaffirms its full willingness to revitalize the historic bonds of friendship with the people and Government of the United Kingdom, as well as to strengthen cooperation in areas of common interest, based on the principles of national sovereignty, reciprocity and respect for international law.
Caracas, September 15, 2026
Special for Orinoco Tribune by staff
OT/JRE/SL
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