- Colombian researchers have officially confirmed the identity of a shipwreck found in 2015 as the Spanish galleon San Jose, long rumored to hold treasure worth an estimated £16 billion.
- The vessel, sunk in 1708 during a naval clash with the British, was transporting gold, silver, and emeralds from Peru to Spain to finance the War of the Spanish Succession.
- Legal disputes have now emerged over rightful ownership of the treasure, involving multiple parties including Spain, Colombia, and private firms.
After more than three centuries submerged beneath the Caribbean Sea, the legendary Spanish galleon San Jose has been definitively identified by Colombian researchers. First discovered in 2015 near Baru Island, off the coast of Cartagena, the wreck has now been confirmed through academic investigations, according to The Telegraph.
The San Jose sank in 1708 following a dramatic confrontation with a British naval squadron led by Charles Wager, who later rose to become First Lord of the Admiralty. During the battle, the galleon’s gunpowder stores detonated, sinking the ship and its cargo of gold, silver, and emeralds estimated to be worth £16 billion today.
Historical Significance and Modern-Day Disputes
Referred to as the “holy grail of shipwrecks,” the San Jose was on a mission to transport South American treasure from Peru back to Spain. The wealth was intended to bolster Spain’s war effort during the War of the Spanish Succession.
Now, with the ship’s identity confirmed, a complex international legal battle is brewing. Stakeholders, including the Colombian government, Spain, and private salvage firms are all asserting claims to the treasure, each citing historical rights, maritime law, and salvage agreements.
A Priceless Wreck With High-Stakes Implications
While the confirmation of the San Jose wreck marks a major archaeological triumph, the ensuing ownership battle may take years to resolve. The outcome will likely set a significant precedent in global maritime heritage and underwater salvage rights.
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Source: Daily Express
