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World|life|December 21, 2021 / 05:08 PM
UK Supreme Court denies Maduro claim to Venezuelan gold

AKIPRESS.COM - The UK Supreme Court has prevented Venezuelan President Nicolás Maduro from accessing $1.95bn (£1.4bn) of gold stored in the Bank of England (BoE), BBC reports.

Mr Maduro says the cash will be used to fight Covid-19 in the country.

The Supreme Court overturned a prior Court of Appeal ruling, meaning only opposition leader Juan Guaidó, who the UK considers as the legitimate leader, can decide what happens to the gold.

Despite this, in practice the UK deals with the Maduro administration.

Mr Guaidó and Mr Maduro have separately appointed two different sets of governors to Venezuela's central bank.

Mr Guaidó, who is recognised by more than 50 countries as the legitimate president, wants the gold to stay in the BoE's vaults.

But Mr Maduro, who remains in the presidential palace and in control of the government, military and police, has sued BoE to have the funds released.

Mr Maduro was re-elected to a second six-year term in May 2018 in highly controversial polls, which most opposition parties boycotted.

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