Both parties appointed management committees of the Central Bank of Venezuela (BCV), “who have issued divergent instructions on the country’s international reserves,” of which the Bank of England holds about $ 1 billion in gold, the Supreme Court said in a statement.
The BCV appointed by Maduro wants to recover the tons of gold deposited in the British bank, but for now, it cannot access because London recognizes Juan Guaidó as interim president.
Self-proclaimed head of state in 2019 with the support of the United States, Guaidó is considered the interim president by some fifty countries that therefore did not recognize the re-election of Nicolás Maduro in 2018.
In 2020, the Venezuelan central bank appealed to the British courts, which initially ruled in Guaidó’s favor, before the appeals court overturned the sentence. The Guaidó side then decided to take the case to the Supreme Court.
After three days of hearings in July, the Court must now pronounce itself this Monday.
Maduro’s lawyers argue that the UK effectively recognizes his presidency, particularly through diplomatic relations.
According to them, the sale of the precious metal to the government could, among other things, help finance the fight against Covid-19.
According to official data, Venezuela, of 30 million inhabitants, registered 440,000 infections and more than 5,000 deaths. Both the opposition and some NGOs accuse the power of falsifying the statistics.
The Guaidó government assures instead that the money would serve to repress the people or fill the pockets of a “kleptocracy.”
To demonstrate its good faith, in light of the allegations of embezzlement made by Guaidó’s team, the BCV had proposed in April that the gold be transferred directly to the United Nations Development Program (UNDP).
The agency said it was willing to consider it under conditions.
The situation is ambiguous: like the United States, London does not recognize the legitimacy of the new parliament and reiterates its support for Juan Guaidó, who has no power in Venezuela.
But at the same time, the United Kingdom maintains an embassy in Caracas, although with reduced diplomatic relations.
Indeed, in October 2020, the appeals court took these arguments into account and ruled that a political statement was not the same as a government decision.
According to the court, the executive of Boris Johnson could recognize “de facto” the power of Maduro, with whose administration he continues to maintain diplomatic relations.
The Supreme Court must now decide “whether the British government recognized interim President Juan Guaidó as head of state of Venezuela and, if so, whether a challenge to its decisions on the direction of Venezuela’s central bank is valid before a British court. “said the UK’s highest judicial authority.
If the Supreme Court rules in favor of the BCV leadership appointed by Juan Guaidó, it would set a precedent that the opposition, which suffered a crushing defeat in the November regional elections, hopes to use to recover Venezuelan assets deposited in other European banks.
In the United States, the management of the assets of the oil-rich country has been entrusted to Guaidó.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
