Venezuela’s gold case reaches UK Supreme Court

This is to determine “whether the British government has recognized interim President Guaidó as head of state of Venezuela and, if applicable, any challenge to the validity of the appointments made by Guaidó to the board of directors of the Central Bank of Venezuela is justiciable in an English court ”, explained the court, according to the news agency. AFP.

Maduro’s government, through the Central Bank of Venezuela Chaired by Calixto Ortega, he has been trying for almost three years without success to recover 32 tons of gold from the national reserve, valued at one billion dollars, which he kept in the coffers of the Bank of England.

But the National Assembly of Venezuela, then dominated by the opposition and chaired by Guaidó, appointed its own ad hoc leadership of the Venezuelan central bank in July 2019 and asked London not to hand over the bars, assuring that they could be used to suppress the people. or line the pockets of a regime he describes as a “kleptocratic”.

Venezuelan government says it needs this money to fight the coronavirus pandemic For this reason, in May 2020 he took legal action against the Bank of England and argued that the case was urgent due to the humanitarian crisis.

But the institution, which keeps funds for many countries, said it was trapped between two rival groups who gave it conflicting instructions and asked the courts that before deciding on the final destination of the however, we decide who has control.

Since then, a London commercial court ruled in July 2020 that the British government had recognized Guaidó as interim president and that the “one voice doctrine” gave him the power to tell the country where the country’s funds were going to the government. foreign. .

But three months later, the court of appeal returned the case to consider that this recognition could in fact be a simple political statement and that it was possible that the executive of the British Prime Minister, Boris Johnson, continue to recognize “de facto” the Maduro administration.

In December, the Supreme Court allowed Guaidó’s representatives to appeal the order and in April the opposing party to cross-appeal.

“After 12 months, the case continues to analyze preliminary issues related to the authority,” Maduro’s lawyers lamented in a statement released on Friday.

“Until the appeal is decided, Juan Guaidó continues to be recognized by the United Kingdom as the only legitimate and constitutional president of Venezuela, without official recognition of Maduro,” said lawyers for the head of the opposition.

Guaidó ceased to preside over the National Assembly following the December legislatures that returned control of parliament to Maduro.

London does not recognize the legitimacy of the new chamber and reiterates its support for Guaidó and the National Assembly elected in 2015.

However, he continues to maintain his embassy in Caracas and minimal diplomatic relations with the Bolivarian administration, which he uses to assert his legitimacy.

The existence of two rival “presidents” has long made it difficult for the Venezuelan government to access the country’s funds in the international financial system.

If the British Supreme Court eventually comes to an agreement with the board of directors of the Central Bank of Venezuela appointed by Guaidó, it would set a precedent that the opposition hopes to use to recover Venezuelan assets deposited in other central banks. European.