UK sends Venezuelan gold to trade court

UK sends Venezuelan gold to trade court

sAccording to the Venezuelan press, the decision of the Special Court was made on Monday, after that body decided that British courts could not conflict with the (British) executive recognizing Juan Guaido as interim president of Venezuela.

Upon learning of the English decision, Juan Guaido used the social network Twitter to report what had happened, stressing that “the gold in international reserves will continue to be protected in the Bank of England.”

Guaido stressed that “the dictatorship will not be able to plunder the gold, as it has done with public funds that caused the humanitarian emergency.”

The opposition leader also emphasized that the opposition “will take the next stage of the trial with dedication, to prove the illegality of the decisions taken by Maduro’s High Court of Justice (Venezuelan), against the junta assigned to the Central Party. The Bank of Venezuela to succeed the non-recognition by the courts of the United Kingdom.”

Guaido also insists that the opposition will continue to exercise its constitutional duty to protect Venezuela’s assets for future generations and hold an unfair presidential election in the country.

On July 19, 2021, the British government attempted to prevent Venezuelan President Nicolas Maduro from accessing nearly €1,650 million in gold deposited in the Bank of England.

The CEO told the UK Supreme Court that recognition of opposition leader Juan Guaido as (interim) president is clear and long-term, and that he is therefore the person empowered to decide how to use the gold held by the Bank of England.

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The statement came after a lower court said the UK’s recognition of Guaido as Venezuela’s leader was “vague”.

“The UK government has the right to determine who should be recognized as the legitimate head of a foreign country,” the Foreign Office said in a statement.

The Executive added that it recognizes Juan Guaido as the (interim) president of Venezuela, and for this reason, he is the only recognized person with the authority to act on behalf of Venezuela as head of state.

Venezuelan President Nicolas Maduro requested access to gold reserves to help the country, which is currently in a severe financial crisis, fight the Covid-19 epidemic, but the Bank of England refused to hand it over, citing London’s recognition of Guaido.

Guaido has sought to preserve the Bank of England’s gold reserves, which are worth about 1,650 million euros, to keep them out of the hands of Maduro, who accuses him of being an illegitimate and corrupt leader.

The leader of Venezuela’s National Assembly, Guaido, has challenged Maduro’s claim to the presidency, arguing that the 2018 elections were fraudulent and invalid, and garnered support from a large part of the international community, including the United Kingdom.

Guaido claims to be the country’s interim president, under the provisions of the national constitution, which allow the head of the legislature to take power so that free elections can be held.

The battle for gold is taking place between two departments of the Central Bank of Venezuela, one appointed by Maduro and the other by Guaido.

Maduro’s lawyers argue that he is still Venezuela’s president and that the United Kingdom recognized him by maintaining diplomatic relations with the current regime.

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Read also: Nicolas Maduro went on vacation for 15 days as a ‘backpacker’

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About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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