assets

Caracas, July 9, 2026 (venezuelanalysis.com) –  Venezuelan Acting President Delcy Rodríguez has called on UK King Charles III to release her country’s gold reserves held at the Bank of England in order to finance relief and reconstruction efforts following the devastating earthquakes that struck Venezuela on June 24.

“I have decided to send a letter, among others, to the King of England asking for the release of the gold being held at the Bank of England. That gold belongs to our people and should be used to address the terrible, tragic consequences of the twin earthquakes,” Rodríguez said in a televised broadcast on Wednesday.

The acting president also revealed that she held a phone conversation with International Monetary Fund (IMF) Managing Director Kristalina Georgieva to discuss the release of Venezuelan resources that remain blocked by the institution.

Earlier on Wednesday, during a virtual meeting with the UN Office for the Coordination of Humanitarian Affairs (OCHA), Venezuelan Foreign Minister Yván Gil likewise urged countries holding Venezuelan assets abroad to “begin a process of releasing” those funds so they can be used for the country’s recovery.

Gil specifically referred to the gold reserves held by the Bank of England and Venezuelan funds blocked under US sanctions. Around 31 metric tons of gold, currently valued at approximately US $4.2 billion, remain frozen in London. In addition, nearly $5 billion in Special Drawing Rights (SDRs) allocated by the IMF in 2021 also remain inaccessible.

On Wednesday, Rodríguez and Georgieva reportedly discussed the use of Venezuela’s $350 million SDR reserve fund, which is different from the SDR allocation.

On June 25, the US Treasury’s Office of Foreign Assets Control (OFAC) issued General License 60, authorizing earthquake relief-related transactions until October. However, OFAC’s waiver does not authorize the unblocking of assets subject to US sanctions regulations or “any other transaction or activity prohibited by another Executive Order.”

Meanwhile, 113 prominent economists, including Isabella Weber, Jeffrey Sachs, and James K. Galbraith, signed an open letter calling for immediate action to “unfetter Venezuela’s humanitarian response and reconstruction from ongoing economic and financial sanctions, asset freezes, and onerous debt burdens.”

“We urge governments, international financial institutions, and creditors to act now, on the principle that lives, public health, and economic recovery take precedence over coercion and collection,” the statement read. The economists suggested mechanisms including emergency liquidity, sanctions relief, and debt cancellation as a “minimum response […] to allow Venezuelans to rebuild with dignity.”

Along similar lines, UN Emergency Relief Coordinator Tom Fletcher warned that the earthquakes are likely to generate “a very difficult economic situation” that could reduce Venezuela’s GDP by “several percentage points,” arguing that sanctions “must be eased so they do not hinder the arrival of humanitarian assistance or recovery efforts.”

Fletcher added that during emergencies, access to financial resources, banking channels, and international cooperation mechanisms can determine how quickly aid, supplies, and reconstruction funding reach affected communities.

Preliminary assessments by the United Nations Development Programme (UNDP) estimate infrastructure and essential services losses at approximately US$6.7 billion. However, the final figure could reach $8.7 billion, depending on housing and asset losses, and the estimates do not include the full extent of infrastructure damage or the long-term reconstruction costs.

For its part, the UN Office for Disaster Risk Reduction (UNDRR) estimates that rebuilding Venezuela will require approximately $37 billion. According to its assessment, $24 billion would be needed to replace damaged buildings—including homes, schools, businesses, and hospitals—while another $13 billion would be required to repair critical infrastructure such as telecommunications, highways, and electricity networks.

Different analyses have placed the recovery costs between $12 and $20 billion.

So far, however, the Trump administration has pledged $300 million in humanitarian assistance, whereas Venezuela’s US-based frozen assets are valued at $11-13 billion. The White House also retains control over Venezuela’s oil export revenues, returning a portion of the funds to Caracas at its discretion.

Rodríguez announced on Wednesday that countries offering humanitarian aid can monitor its distribution through a digital platform used to coordinate deliveries across the 87 temporary shelters established for displaced families throughout the country. The acting president has vowed to prioritize the well-being of families who lost their homes and to provide new housing solutions in the coming months.

The latest official update placed the death toll from the earthquakes at 3,889, while the number of injured remains at 16,740 and the number of displaced people stands at 17,907.

Edited by Ricardo Vaz in Caracas.

Halfway through a turbulent year, a clear pattern has emerged across global markets: anything tied to the physical build-out of AI has soared, while several other assets that investors traditionally turn to in uncertain times have stumbled.

ADVERTISEMENT

ADVERTISEMENT

War in the Middle East, political upheaval and an oil-price spike formed the backdrop, yet stock markets in several regions still pushed to fresh record highs.

According to Dan Coatsworth, head of markets at AJ Bell, companies on the receiving end of the AI spending boom were the standout investments of the first half, while Bitcoin proved “a shocker” and gold lost its shine.

It is, Coatsworth noted, a remarkable run of events for only half a year’s worth of trading.

The most spectacular gains came from an unglamorous corner of the technology world: the firms that make memory chips.

As demand for AI computing collided with tight supply, prices surged and took shares with them. SanDisk led the US market with a gain of over 850% in six months, while Western Digital, Micron Technology and Seagate Technology all more than tripled in value, a pace of return that would ordinarily take many years to achieve.

The driver is the vast quantity of high-speed memory and storage needed to train and run AI systems as the largest technology companies race to expand their data centres.

Other US equities that soared on the back of the AI trade include Intel, Dell, Advanced Micro Devices (AMD) and Applied Materials, which all rose between 150% and 280% year to date.

The rush also lifted emerging markets, where Asian chipmakers such as TSMC and SK Hynix carry heavy weight, helping South Korea’s KOSPI double in value, Japan’s Nikkei 225 climb roughly 40% and the MSCI Emerging Markets index rise by around 27%.

In Europe, the FTSE 100 gained 7% in the first half of the year, France’s CAC 40 rose 5%, while Germany’s DAX gained 2%. Meanwhile, the MSCI India index fell 5% and Hong Kong’s Hang Seng lost 6%.

Notably, the memory rally has begun to unwind in recent days, with several of the same names caught in a sharp technology sell-off.

The fallen favourites, takeovers and the trades that cooled

The flipside was brutal for yesterday’s winners.

Previous AI darlings Meta and Microsoft were left behind, down 14% and 24% respectively on a total-return basis, as heavy AI spending turned the technology giants into more capital-hungry businesses and investors stopped paying a premium for them.

Microsoft now trades at its cheapest level in a decade, leaving both it and Meta valued more modestly than McDonald’s, an outcome few would have predicted at the height of the “Magnificent 7” craze.

Elsewhere, the assets many expected to lead disappointed.

Gold took investors on a volatile ride. After surging to a record high of $5,594.82 an ounce on 29 January, the precious metal lost around 28% from its peak despite the geopolitical turmoil that would normally send investors flocking to safe-haven assets. Instead, its appeal was undermined by higher bond yields and cash rates, which offer an income that a gold bar cannot.

Bitcoin fared worse still, falling 28% since the start of the year as enthusiasm for crypto drained away and money rotated towards technology shares instead.

In the UK, takeovers did much of the heavy lifting.

Six FTSE 100 companies, among them Glencore, Schroders and Segro, attracted bid interest in the first half, a sign that buyers still see value in British blue chips even after a three-year re-rating.

Housebuilders such as Persimmon struggled against a sluggish property market, while tech-adjacent names like Experian and RELX were swept up in fears about AI disruption.

One trade that conspicuously cooled was defence.

After a storming 2025, the likes of BAE Systems, Germany’s Rheinmetall and America’s Palantir all gave ground, as the good news on rising military budgets looked fully priced in and investors drifted elsewhere.

This article does not constitute financial advice. Always do your own research and invest according to your specific circumstances.

Caracas, June 26, 2026 (venezuelanalysis.com) – Venezuelan casualties from Thursday’s double earthquake continue to rise amid ongoing search and rescue efforts to remove survivors from flattened buildings.

On Thursday night, Venezuelan authorities reported 235 people dead and over 4,300 injured. There are 250 buildings with serious damage or completely collapsed. 

The death toll is expected to rise sharply with unofficial missing people databases compiling more than 40,000 unaccounted persons. However, the figure has steadily decreased in recent hours, while organizers have also pledged to remove duplicate filings.

Social media channels have been flooded with reports of missing friends and relatives.

The Caribbean nation was struck by 7.2 and 7.5-magnitude earthquakes in quick succession on Wednesday. The tremors were concentrated in central and northern states, including the capital. Coastal La Guaira State was the worst affected, with government officials reporting over 100 collapsed buildings.

Search and rescue efforts continued on Thursday as civil protection teams and volunteers rushed to locate survivors and remove them from under the rubble. The Venezuelan government called on the private sector to collaborate with heavy machinery. Several areas of La Guaira are also hard to reach.

Venezuelan grassroots organizations also mobilized, organizing the collection of food, clothes and medicines for displaced families and setting up makeshift shelters.

Videos on social media showed the Venezuelan armed forces likewise moving equipment and mobile surgical units to the coastal area. Commercial flights to and from Simón Bolívar International Airport airport in La Guaira, the main air hub serving Caracas, have been temporarily suspended following damage to a major runway and the air traffic control tower.

Acting President Delcy Rodríguez visited the most affected areas on Thursday afternoon and oversaw ongoing efforts to deploy heavy machinery and provide food and shelter for displaced families.

“We express our support and solidarity to all those affected and we hope to find as many survivors as possible,” she told reporters. “We are working around the clock and we have called for international assistance.”

Venezuelan efforts were reinforced on Thursday night with the arrival of emergency teams from Mexico, the Dominican Republic, and El Salvador. Additional brigades are reportedly on the way from Colombia, Brazil, and the US, among others.

Alongside search and rescue teams, the US Department of War announced a deployment of logistical support assets.

In a statement, the US Southern Command (SOUTHCOM) announced the deployment of the amphibious transport ship USS Fort Lauderdale and the littoral combat ship USS Billings alongside Hercules transport aircraft. Marine Corps Major General Kevin J. Jarrard landed on Thursday night and will reportedly oversee the efforts.

The Trump administration is providing $150 million in humanitarian aid to be channeled through “assistance” partners including Catholic Relief Services and multiple UN agencies.

Washington has, however, opted to maintain its punishing economic sanctions regime against the South American country. On Thursday, the US Treasury Department issued General License 60 (GL60) authorizing transactions related to earthquake relief efforts. However, Venezuelan assets abroad, including bank accounts, remain frozen, meaning that aid efforts will still face hurdles or require US approval.

Caracas has also been unable to access around $4.8 billion in gold held by the Bank of England as well as nearly $5 billion in IMF Special Drawing Rights issued during the Covid-19 pandemic. 

Since January, the Trump administration has issued multiple sanctions waivers to allow Western corporations to secure favorable energy and mining agreements with the acting Rodríguez government. Transactions between Caracas and its historic allies in China, Russia, Cuba, and Iran continue to be prohibited by the waivers and subject to secondary sanctions. The White House has likewise seized control of Venezuelan export revenues, disbursing a portion back to Caracas at US officials’ discretion.

Edited and with additional reporting by Lucas Koerner in Caracas.

Caracas, April 23, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez has established a commission to assess the “strategic” value of state-owned assets and their possible transfer to the private sector.

The Commission for the Evaluation of Public Assets held its first meeting on Wednesday. In a short televised message, Rodríguez said the commission had the purpose of bringing “agility and modernity” to the Venezuelan state.

The acting president announced that Venezuelan state assets would be divided into four categories: strategic ones to remain under state control, “strategic alliances” where the state retains ownership but management is turned over to the private sector in concession-type deals, “non-strategic” assets to be fully privatized; and assets to be liquidated or reincorporated elsewhere.

“The purpose of this commission is to elevate Venezuela’s productivity levels, so that the Venezuelan state can be robust and attend to the strategic aspects of the nation,” she said.

The commission includes Economic Sector Vice President Calixto Ortega, Finance Minister Anabel Pereira, Industry Minister Luis Villegas, State Solicitor Arianny Seijo, Communes Minister Ángel Prado, as well as Luis Pisella, former president of industry guild CONINDUSTRIA, representing the private sector.

Former Venezuelan President Hugo Chávez spearheaded a nationalization campaign in the 2000s to impose state control of key economic areas such as oil, electricity, telecoms, banking, and the heavy industries.

In recent years, with the economy heavily targeted by US sanctions, the Nicolás Maduro government expanded “strategic alliances” with the private sector, particularly in the Venezuelan countryside. However, campesino organizations have denounced that the private takeover of companies that formerly supplied seeds, inputs, and tractors has significantly raised costs for small-scale producers. Strategic alliances in sugar mills have also drawn complaints of companies defrauding sugar cane growers.

The Cisneros Group, one of Venezuela’s largest private sector conglomerates, has recently announced plans to raise over $1 billion in funds ahead of potential sell-offs of state assets.

Elias Ferrer Breda, financial analyst and director of Orinoco Research, told Venezuelanalysis that he foresees privatizations in basic industries such as steel and cement.

“In my view, we will see virtually all the industries that are running at low capacity and without turning profits privatized,” he predicted. “We are talking about industries like steel and cement, but also other sectors like hotels or agricultural land.”

Ferrer affirmed that state companies currently under strategic alliances, such as sugar mills or Ferrominera Orinoco, an iron-ore complex presently managed by India’s Jindal Steel, could continue under similar deals as opposed to being sold outright.

“Where investors have mostly expressed an interest is in extractive industries: oil and mining,” he added. Ferrer additionally claimed that US “strategic and business interests” are likely to pursue control over Venezuelan critical mineral reserves, which are not presently certified.

Rodríguez had unveiled the commission to evaluate state assets in an April 9 presidential address. The acting leader also set in motion efforts to reform Venezuela’s labor, tax, and pension legislation. The Venezuelan National Assembly has recently approved pro-business overhauls of the country’s hydrocarbon and mining laws.

Caracas reestablished dealings with the International Monetary Fund (IMF) and the World Bank on April 16. On Wednesday, Rodríguez disclosed a conversation with IMF Managing Director Kristalina Georgieva and stated Caracas’ priority in unblocking around US $5 billion worth of Special Drawing Rights to improve public services such as electricity and water supply.

For her part, Georgieva acknowledged a “very valuable and productive call” and that the next steps include IMF “policy advice and capacity development.”

Venezuelan leaders have vowed that there are no plans to incur IMF debt. However, the Caribbean nation could soon face pressure from creditors looking to collect on a massive external debt, with unpaid loans, defaulted bonds, and international arbitration awards totaling as much as $170 billion with accrued interest.

On April 16, the so-called Venezuelan Creditor Committee held talks with US officials amid efforts to secure a license to engage in debt negotiations with Caracas. The committee includes Fidelity Management & Research Company LLC, Morgan Stanley Investment Management, Greylock Capital Management, and others.

Since the January 3 US military strikes and kidnapping of Venezuelan President Nicolás Maduro, the Trump administration has seized control of Venezuelan oil revenues while issuing licenses to grant Western corporations favorable access to the Caribbean nation’s energy and mining sectors.

Edited by Lucas Koerner in Fusagasugá, Colombia.