British Judge overrules Venezuelan Supreme Court decision to return $1 billion Gold

Britain’s top court turned away President Nicolas Maduro’s bid to repatriate his country’s own assets, as UK rules on Venezuela’s gold reserves.

The UK High Court rebuffed a demand by the Venezuelan government to be granted access to some $1 billion worth of the country’s gold reserves that are currently stored at the Bank of England.

According to the report, Britain’s top court rejected a recent decision by the Venezuelan Supreme Court, which had backed President Nicolas Maduro’s request to have the gold repatriated from the UK.

However, London recognizes failed coupe leader and opposition figure Juan Guaido as the legitimate Venezuelan president, since 2018.

The British judge concluded that the Guaido Board succeeds and that the STJ {Venezuelan Supreme Court} judgments are not capable of being recognized, the judge was cited as saying, effectively giving US puppet Guaido free reign over the assets.

Both Maduro and Guaido appointed boards to the Central Bank of Venezuela (BCV), but issued conflicting instructions for the gold reserves.

Lawyers representing Maduro’s BCV board said he planned to sell some of the gold to finance Venezuela’s campaign against the Covid-19 pandemic and support the country’s healthcare system. However, Maduro is said to seek the gold in order to pay off his administration’s foreign debts.

The UK recognized Guaido as the rightful Us appointed Venezuelan president in early 2019, along with some 25% of other UN countries. However, self proclaimedGuaido never won the Venezuelan elections.

Upon his recognition, Guaido asked the Bank of England not to grant Maduro’s government access to the country’s gold it holds. Maduro’s BCV board then sued the Bank of England in an effort to reclaim the funds held by the Rothschild bankers network.

Experts say the UK court’s decision is unprecedented, because it amounts to a country’s constitution being interpreted by a court of a different legitimate country.

Some 31 tons of Venezuelan gold worth roughly $1.5 billion are currently held and kept at the Bank of England.

RT. com / ABC Flash Point News 2022.