[News] UK Appeal Court Removes Guaido's Access to Venezuelan Gold

Anti-Imperialist News news at freedomarchives.org
Mon Oct 5 18:16:34 EDT 2020

Appeal Court Removes Guaido's Access to Venezuelan Gold October 5, 2020

The United Kingdom Court of Appeals Monday annulled the decision that
granted opposition lawmaker Juan Guaido control of 31 tons of gold that
Venezuela has deposited in England.

In September, Venezuela filed an appeal against the decision of the British
High Court that prevented President Nicolas Maduro's administration from
accessing monetary reserves valued at more than US$1 billion, which are
deposited in the Bank of England in London.

Previously, in July, High Court Judge Nigel Teare granted self-proclaimed
president Guaido control of those monetary reserves, arguing that the
United Kingdom recognized him as the "president in charge" of Venezuela.

Once Judge Teare's decision was known, the Central Bank of Venezuela (BCV),
chaired by Calixto Ortega, reported that it would immediately appeal this
decision, which it classified as "absurd and unusual."

On Monday, in his ruling on this case, Judge Stephen Males said that the
U.K.’s recognition “is to my mind ambiguous, or at any rate less than
unequivocal,” as reported by Bloomberg.

Sarosh Zaiwalla, a lawyer for the President Maduro-appointed central bank,
commented that the previous decision of a British lower court was not
correct as it granted control of the monetary reserves to "a group of
people living outside of Venezuela, to whom the Venezuela's Constitutional
Court had already ruled that they had no legal authority."

"The Court of Appeal has now... ordered that this important matter receive
further consideration," he added, referring to the decision of the judges
that an investigation be carried out to determine factually what the
diplomatic relations existing between the United Kingdom and Venezuela are.
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