UK Gold Ruling Based On ‘Illegal Interference’ In Venezuela
Mexico City, Mexico, December 20, 2021 – The United Kingdom’s highest court issued a ruling on Monday favoring opposition figure Juan Guaidó and his efforts to wrest control of US$1.7 billion worth of Venezuelan gold stored at the Bank of England (BoE).
The Monday decision is the latest episode in the legal struggle by the democratically-elected Nicolás Maduro government to regain access to the reserves. Following what the court described as the “one voice principle," the court ruled that under the UK’s constitutional arrangements political recognition of foreign states falls to the country’s executive.
In 2019, Conservative UK Prime Minister Theresa May recognized Guaidó, then president of the National Assembly, as “interim president” as part of the US-led effort to oust the Maduro government.