The Trump administration is actively working with Venezuelan officials to unlock approximately $11 billion in frozen assets, including $5 billion in Special Drawing Rights held at the IMF, $4 to $4.5 billion in gold at the Bank of England, and oil revenues controlled by the US Treasury. These funds were frozen under sanctions targeting the Maduro regime, which was ousted in a military action in January 2026. Fourteen bipartisan US lawmakers sent a formal letter to President Trump on July 14, 2026, urging the lifting of sanctions to enable access to these funds for humanitarian purposes. This move could significantly impact commodity markets, particularly oil, and set a precedent for how frozen sovereign assets are treated after regime change.
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