UK court approves gold appeal in Venezuela Central Bank | Stories
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The dispute over gold status in the UK recognizes Guaido’s opposition leader as Venezuelan president.
Britain’s highest court has ruled that Venezuelan opposition leader Juan Guaido may appeal a lawsuit against him or President Nicolas Maduro for embezzling more than $ 1bn worth of $ 1bn worth of gold stored in the Bank of England.
The pull-war on gold is based on the issue of whether the British government recognizes Guaido as Venezuelan leader.
The Strict with the Guaido camps each chose a different group at the Central Bank of Venezuela (BCV) and the two have issued conflicting instructions regarding gold reserves and funds similar to Deutsche Bank.
The court ruled that last year’s English Court of Appeals’ decision to overturn the former Supreme Court ruling was “wrong” because the British government recognized Guaido as Venezuelan president “was reasonable and unambiguous”.
In a statement, the Supreme Court on Monday ruled that the British courts must accept that the British government does not recognize Maduro as President of Venezuela “for any reason”.
However, the court ruled that it was necessary to consider whether to accept the decision of the Venezuelan Supreme Court that the Guaido reform law was invalid, and asked the Trade Court to do so.
Maduro’s BCV filed a lawsuit against the Bank of England (BoE) in May 2020 for re-monitoring of gold, which it claims will sell to support Venezuela’s response to the coronavirus epidemic and to strengthen the health system that has been affected by the financial crisis for years.
The BoE has refused to release gold since the British government in early 2019 joined international partners in supporting Guaido in the wake of Maduro’s election victory last year.
Opponents in Venezuela say Maduro government officials who have no money want to use the money to pay their foreign counterparts, which his lawyers are refusing.
Sarosh Zaiwalla, a London-based lawyer representing Maduro BCV on Monday, said in a statement: in Venezuela. ”
Guaido, in his remarks, welcomed the decision and said he and his nominees “will continue to commit themselves to the task of protecting the Republic’s economy for future generations.”
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