The president of Colombia has called for an accelerated recovery of the 300-year-old shipwreck of the San Jose, which is believed to contain a $20 billion treasure. However, an American company is claiming that half of the treasure belongs to them.
The San Jose, a Spanish galleon that sank off the coast of Colombia in 1708 during a battle with the British Navy, is believed to be carrying gold, silver, gems, and jewelry collected by South American colonies to be shipped to Spain's king. The exact location of the wreck has been kept a closely guarded secret, but the Colombian navy discovered the storage ship in 2015.
American company Sea Search Armada, which discovered the wreck in the 1980s, made a deal with Colombia to receive half the value of the treasure in exchange for providing the coordinates. However, Colombia rejected their ownership rights earlier this year.
The ownership dispute has raised questions about who can claim the treasure on board the San Jose. Some argue that Colombia should have sole ownership, while others believe that Sea Search Armada should receive their half of the fortune.
President Petrow is reported to be pushing for a public-private partnership or a deal with a private firm to recover the riches. Although the depth of the water where the wreck lies poses challenges for divers, remote operated vehicles can be used to retrieve the treasure.
Source: Youtube
