Who owns the treasure found in the San José galleon, wrecked in the Caribbean Sea? The United States, Colombia and Spain claim it

The depths of the Caribbean Sea hold a treasure chest of contention: the San José galleon. This Spanish vessel, sunk in 1708, is believed to contain a $20 billion fortune in gold, silver, and other precious items. However, claiming this bounty is far from straightforward, as several nations lay claim to the sunken riches.

Colombia, where the wreck lies within its territorial waters, counters with its claim of discovery in 2015. They view the treasure as a rightful part of their national heritage and the claim of finding it first. Colombian minister of culture Juan David Correa told Bloomberg that the ship is a priority for the government. “The president has told us to pick up the pace,” he said.

Further complicating the matter, Sea Search Armada, an American salvage company, claims rights to the treasure by discovering the wreck in 1982. They are suing the Colombian government for half the value of the treasure..

The claims extend beyond these two major players. Bolivia’s Qhara Qhara nation argues that the Spanish forced their ancestors to mine the precious metals found on the San José. They seek compensation for this historical injustice, potentially through a share of the treasure.

Spain argues that the wreck is a sovereign naval vessel and therefore its cargo remains the property of the Spanish government.

As of today, the ownership of the San José's treasure remains unresolved. The American salvagers and Colombian government are the primary contenders, locked in an ongoing arbitration case in London. The treasure waits on the seabed, a silent and valuable witness to a complex historical and legal drama.