Venezuela has the world’s largest proven oil reserves, estimated at 303 billion barrels as of 2023, more than five times the amount the US has (55.25 billion barrels).

Venezuela also ranks ninth in the world for natural gas reserves, and possesses the largest official gold reserves in Latin America.

According to the World Gold Council, which monitors central bank holdings globally, Venezuela’s reserves are approximately 161.2 tonnes, worth more than $23bn in today’s market value.

Venezuela is also believed to hold some of the most significant untapped gold resources, but official data is outdated.