The Venezuelan government and opposition are close to an agreement to transfer the central bank’s gold reserves, worth about $4 billion, from the Bank of England to the Federal Reserve Bank of New York, the Financial Times reported on Friday.

Axar.az reports, citing Reuters, under the proposed agreement, the interim government of Delcy Rodriguez would gain legal control of the gold but would not be able to sell the holdings immediately, according to the FT.

Instead, the reserves could be used as collateral for government borrowing, including to fund reconstruction following June’s twin earthquakes, the newspaper reported.

A spokesperson for the British Foreign Office said the government was “not a party in the legal case to determine who should have control of Venezuelan gold held in the Bank of England.”

The spokesperson added that UK courts and the Bank of England are independent of the government.