CARACAS/LONDON (Reuters) - An English court on Thursday said it would
need to decide which of Venezuela's dueling political factions to
recognize before ruling on President Nicolas Maduro's request for the
Bank of England to hand over gold the country has in its vaults.
Venezuela for decades stored gold that makes up part of its central bank reserves in the vaults of foreign financial institutions including the
Bank of England, which provides gold custodian services to developing countries. The bank since 2018 has refused to transfer the funds to
Maduro's government, which Britain does not recognize.
Earlier this month, Venezuela's central bank made a legal claim to try
to force the bank to release 930 million euros ($1.03 billion) in gold
to fund Venezuela's coronavirus response. The government says it has a
deal with the UN Development Programme to administer the funds.
But according to statements from both parties, the court said it would
begin hearings no earlier than June 22 to determine which party could
represent Venezuela in the case: Maduro or Juan Guaido, the leader of
the opposition-controlled National Assembly.
https://whtc.com/news/articles/2020/may/28/english-court-to-weigh-recognition-of-maduro-guaido-in-venezuela-gold-case/1023262/?refer-section=world
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