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Venezuela gold: UK High Court rules against Nicols Maduro
Source: BBC
Venezuela gold: UK High Court rules against Nicolás Maduro
2 July 2020
The UK High Court has ruled against Venezuela's government in a legal battle over access to $1bn (£820m) of gold stored in the Bank of England.
It said the UK had "unequivocally recognised opposition leader Juan Guaidó as president", rather than President Nicolás Maduro.
The ruling comes after the government launched legal action against the bank to try to force it to release the gold.
It is a severe blow to Mr Maduro's cash-strapped administration.
Lawyers for the Maduro-controlled Venezuelan Central Bank, which brought the case, said they would appeal against the judgement.
The gold is being retained by the Bank of England (BoE) following British and US sanctions on Mr Maduro's government.
-snip-
2 July 2020
The UK High Court has ruled against Venezuela's government in a legal battle over access to $1bn (£820m) of gold stored in the Bank of England.
It said the UK had "unequivocally recognised opposition leader Juan Guaidó as president", rather than President Nicolás Maduro.
The ruling comes after the government launched legal action against the bank to try to force it to release the gold.
It is a severe blow to Mr Maduro's cash-strapped administration.
Lawyers for the Maduro-controlled Venezuelan Central Bank, which brought the case, said they would appeal against the judgement.
The gold is being retained by the Bank of England (BoE) following British and US sanctions on Mr Maduro's government.
-snip-
Read more: https://www.bbc.com/news/world-latin-america-53262767
