Central Bank of Venezuela

The Central Bank of Venezuela (Banco Central de Venezuela, BCV) is Venezuela's central bank and the institutional claimant in UK litigation over Venezuelan reserve gold. The United States blocked BCV property in 2019, but General License 57 has authorised a broad category of financial services involving the bank since 14 April 2026. Designation, blocking, licensing, recognition and custody litigation are distinct legal states.

Sanctions and recognition

The United States designated the BCV in April 2019 under the programme treated at United States sanctions against Venezuela and PDVSA (2017-present). General License 57 authorises transactions ordinarily incident and necessary to providing a defined, broad range of financial services to, from or for the benefit of BCV. It does not unblock property or authorise transactions prohibited on another basis. Separately, rival boards litigated over gold held by the Bank of England. In December 2021 the UK Supreme Court held that the UK's recognition of Juan Guaidó was conclusive for issues before it and remitted other questions. That judgment did not finally allocate the gold.

Adaptation

Reporting has linked Venezuelan state bodies, gold sales and intermediaries to adaptation around sanctions, but that does not establish that every transaction was directed or executed by the BCV. Attribution of monetary collapse is contested and must distinguish pre-2019 policy, later sanctions and other shocks. The BCV's official authorities page identified Luis Alberto Pérez González as acting president from 15 April 2026. That institutional claim does not resolve foreign recognition, litigating authority or the effect of a particular licence.

Significance

The BCV case shows how designation, recognition and custody disputes can converge around a monetary authority without becoming the same legal act. It does not prove confiscation, final ownership or the operational role of any intermediary.

See also

Venezuela · Venezuelan central-bank gold control litigation in the United Kingdom (2019-present) · Bank of England · United States sanctions against Venezuela and PDVSA (2017-present) · PDVSA · Gold custody, vaulting and bullion logistics · Sovereign immunity of central bank assets · Economic statecraft

Sources

• US Department of the Treasury, OFAC Venezuela-related sanctions.
• US Department of the Treasury, Venezuela General License 57 (14 April 2026).
• Banco Central de Venezuela, current authorities.
• [UK Supreme Court, Guaidó Board of the Central Bank of Venezuela v Maduro Board, [2021] UKSC 57](https://supremecourt.uk/uploads/uksc_2020_0195_judgment_83b5fb67ab.pdf).
• UK Government, Foreign Secretary's intervention concerning Venezuelan gold held by the Bank of England.
• Judiciary of England and Wales, Court of Appeal judgments.