Caracas Protests ‘Astonishing’ Ruling In Favor Of US-Backed Guaidó
Venezuelan authorities have blasted the latest court ruling in the struggle for control over 31 tonnes of gold stored in the Bank of England (BoE).
On Friday, the High Court of England and Wales decided in favor of opposition politician Juan Guaidó and dismissed a new effort by the Venezuelan Central Bank (BCV) to regain control over the reserves worth an estimated US $1.7 billion.
Caracas had brought to court the Venezuelan Supreme Court decrees stating that the parallel BCV board appointed by the US-backed opposition was illegal. However, judge Sara Cockerill decreed that the British Court could not recognize the rulings made by Venezuela’s highest judicial instance.
Since late 2018, the Bank of England has refused BCV requests to repatriate the gold reserves.