Maduro scores victory over Guaido in battle over Venezuelan gold

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VENEZUELAN President Nicolas Maduro’s government scored an initial victory in a battle for control over gold deposited in the Bank of England on Monday when an appeals court overturned a ruling favourable to opposition leader Juan Guaido.

The tribunal questioned a lower court’s stance that Britain had unequivocally recognised Guaido as Venezuela’s interim head of state.

It called on London to clarify its position and said the legal battle should be reconsidered.

Dozens of countries support Guaido, but he has been unable to oust the military-backed Maduro, who has presided over an economic meltdown and political unrest.

In early July, the High Court had denied Maduro’s central bank access to gold worth a reported 1 billion dollars.

The central bank had petitioned the court after the Bank of England refused to release the gold because of a competing claim by officials working for Guaido.

Britain and other Western nations have recognised Guaido as Venezuela’s interim president since January 2019, when he declared himself the legitimate head of government

NAN

– Oct. 6, 2020 @ 09:54 GMT /

 

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