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Control of Venezuelan gold held in London cast into doubt
Source: Associated Press
Control of Venezuelan gold held in London cast into doubt
By SCOTT SMITH
October 5, 2020
CARACAS, Venezuela (AP) — A British court on Monday threw into question who controls nearly $2 billion in Venezuelan gold stowed in a London bank vault amid a power struggle between President Nicolás Maduro and his leading rival.
The appeals court ruling set aside a British judge’s earlier decision granting control of the bullion to U.S.-backed opposition leader Juan Guaidó.
Britain recognizes Guaidó as Venezuela’s legitimate leader, while also holding diplomatic ties with Maduro. The appeals court has ordered a deeper investigation into the matter before either side is given access to the gold inside the Bank of England.
Maduro has demanded the gold. But the central bank for the United Kingdom had refused to hand it over to his government and a judge in July sided with Guaidó.
Sarosh Zaiwalla, an attorney who represents Venezuela’s Central Bank, praised Monday’s decision giving the case further consideration.
-snip-
By SCOTT SMITH
October 5, 2020
CARACAS, Venezuela (AP) — A British court on Monday threw into question who controls nearly $2 billion in Venezuelan gold stowed in a London bank vault amid a power struggle between President Nicolás Maduro and his leading rival.
The appeals court ruling set aside a British judge’s earlier decision granting control of the bullion to U.S.-backed opposition leader Juan Guaidó.
Britain recognizes Guaidó as Venezuela’s legitimate leader, while also holding diplomatic ties with Maduro. The appeals court has ordered a deeper investigation into the matter before either side is given access to the gold inside the Bank of England.
Maduro has demanded the gold. But the central bank for the United Kingdom had refused to hand it over to his government and a judge in July sided with Guaidó.
Sarosh Zaiwalla, an attorney who represents Venezuela’s Central Bank, praised Monday’s decision giving the case further consideration.
-snip-
Read more: https://apnews.com/article/london-venezuela-archive-united-kingdom-8aed97a3890f7a2cd7ffe09a71b6b050
