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British court divides Venezuela’s gold reserves


Xenia Lokinova of Izvestia writes about the British blockade caused by the refusal to return Venezuelan gold reserves held in a UK bank to a formal government in Caracas.

The article reads: The British High Court has again questioned who will get the $ 1 billion Venezuelan gold reserves held by the Bank of England. The fate of gold is still stuck, three years ago. In July last year, the court rejected Caracas’ demand for gold. The United Kingdom recognizes opposition leader Juan Guido, but the court has justified its decision by not choosing President Nicolas Maduro as Venezuela’s legitimate leader. But in October, the Court of Appeals reversed the decision, recognizing that recognizing Quito as interim president was “not a foregone conclusion” and deciding to return the case to the High Court in London.

The talk is that Venezuela’s gold reserves are 31 tons, total value of one billion dollars, which is 15% of the country’s foreign exchange reserves.

In this regard, the Director-General of the Russian International Affairs Council Andrei Kordunov said that in the current situation, it is difficult to explain why Caracas continues to hold Venezuelan reserves in the Bank of England. He added: “There is President Maduro, of course no one can agree on the position on him, but he controls the country. Controlling the situation.

Kordunov believes that the British are now in a difficult situation. “If they recognize Maduro, they will have to admit that they made a big mistake in supporting Guido, and they will have to return the money. So, overall, British foreign policy has found itself in an awkward situation, and there are no good ways out of it.

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