The Bank of England will decide the fate of Venezuelan gold | The steps

The United Kingdom Government badures that it is up to the Bank of England to decide what to do with the "significant amount" of gold that it keeps from Nicolás Maduro's regime in Venezuela.

"It's a decision of the Bank of England, not the government," Foreign Minister Alan Duncan said in an emergency session on Venezuela. "They are the ones who have to make a decision on this, but they will have to take into account the fact that a lot of countries around the world are questioning the legitimacy of Nicolás Maduro."

The Bank of England has deposited about 1,200 million dollars in Venezuelan gold (about 1,050 million euros), a significant portion of the $ 8,000 million in foreign exchange reserves held by the central bank. This put the British regulator at the center of growing international opposition against the Maduro government. US authorities are trying to transfer Venezuela's badets to the head of the National Assembly, Juan Guaidó, to boost his chances of taking power.

Recovering the gold from the Bank of England has been a priority for the Maduro scheme for weeks. In mid-December, Calixto Ortega, president of Venezuela's central bank, led a delegation that traveled to London to gain access, according to sources familiar with the matter.

However, the talks were unsuccessful and communications between the two sides have been interrupted since. According to these sources, the Bank of England rejected the withdrawal request after US Secretary of State Michael Pompeo and National Security Adviser John Bolton convinced their British counterparts to cut off the money. access of the Venezuelan regime to your badets abroad.

The Bank of England did not want to talk about its management of Venezuelan badets. He only explained that he "provides banking services, including gold conservation services, to a large number of customers" and "does not comment on any of these relationships". He also made sure to "comply with all applicable laws, including applicable financial penalties".

The central bank houses the second largest armored chamber in the world with gold after the New York Federal Reserve and stores more than 400,000 ingots in its underground departments.

Last week, the United Kingdom recognized Mr Guaidó as the legitimate president of Venezuela, along with the United States and many other countries. When asked if the government would consider additional sanctions against Venezuelans, including military personnel, Duncan replied that he would consult with international partners on "how to". address the problem ".