The UK Supreme Court is blocking the Maduro government from accessing Venezuela’s gold reserves in the Bank of England

  • Drafting
  • BBC News World

image source, Getty Images

explained,

In 2019, the Bank of England froze the Venezuelan government’s access to gold reserves, sparking protests among Maduro supporters.

The United Kingdom’s Supreme Court on Friday rejected the latest request by Nicolás Maduro’s government for access to more than $1 billion in Venezuelan gold reserves stored in the secret vaults of the Bank of England.

Venezuela’s gold reserves have been disputed over control between President Maduro and the opposition leader, Juan GuaidoRecognized by the United Kingdom and other countries in the West as the interim president of that Latin American country.

Both Maduro and Guaido have been appointed Various Boards of the Central Bank of Venezuela (BCV) The two issued contradictory instructions on managing gold reserves.

The Supreme Court of Justice of Venezuela (TSJ), in a formal direction, ruled that Guaido’s involvement in gold should be reduced and that the reserves should be moved from London, but British Judge Sarah Cockrell rejected this argument.

Leave a Reply

Your email address will not be published.