Venezuela’s Guaidó wins UK court ruling in battle over gold

Jul 29, 2022, 9:10 AM | Updated: 10:35 am

LONDON (AP) — Venezuelan opposition leader Juan Guaidó won a U.K. court ruling Friday that takes him a step closer to victory in his battle with President Nicolás Maduro over a cache of gold bullion held in the Bank of England.

A judge at the High Court in London ruled that British courts do not need to recognize judgments by the Supreme Tribunal of Justice of Venezuela, Venezuela’s top constitutional court, that said the gold should go to Maduro.

The ruling is part of a long-running wrangle over assets of Venezuela’s central bank. Two rival boards of Banco Central de Venezuela – one appointed by Maduro and another by Guaidó – are battling to secure the release of more than 800 million pounds ($1 billion) of gold in the vaults of the Bank of England.

The British government recognizes Guaidó as Venezuela’s president, and the Bank of England has refused to hand the gold over to Maduro.

Judge Sara Cockerill said there was “no basis” for the recognition of the judgments of the Venezuelan court that declared Guaidó’s bank board appointments unconstitutional. She said the Guaidó board “therefore succeeds.”

In a statement, Guaidó said the ruling was “another step in the process of protecting Venezuela’s international gold reserves and preserving them for the Venezuelan people and their future.”

A spokesperson for the Maduro-appointed board said it was considering an appeal.

“This is an unfortunate ruling that ultimately rests on a narrow issue of law about the recognition of foreign judgments,” lawyer Sarosh Zaiwalla, who represents the Maduro board, said.

Venezuela’s Central Bank itself later issued a statement complaining that the British court had subordinated itself to British foreign policy and had violated international law.

While serving as leader of Venezuela’s National Assembly, Guaidó challenged Maduro’s claim to the presidency, arguing that his 2018 election was rigged and invalid. Guaidó says he’s the country’s interim president under provisions of the constitution that allow the head of the national legislature to take power until free elections can be held.

While a number of countries, including the U.S. and the U.K., recognized Guaido’s claim, he has never been able to assert his authority and Maduro remains in charge.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

FILE - Gabby Petito's mother Nichole Schmidt, wipes a tear from her face during a news conference o...

Associated Press

Mother of man who killed Gabby Petito said in letter she would help son ‘dispose of a body’

The mother of the man who killed Gabby Petito told her son in an undated letter that she would “dispose of a body” if needed because she loved him so much, according to copies of the note shared publicly for the first time this week by attorneys for Petito's parents.

2 days ago

A member of the 3rd U.S. Infantry Regiment, also known as The Old Guard, places flags in front of e...

Associated Press

5 things to know about Memorial Day including its controversies

Memorial Day is supposed to be about mourning the nation’s fallen service members, but it’s come to anchor the unofficial start of summer and a long weekend of discounts on anything from mattresses to lawn mowers.

2 days ago

FILE - This artist sketch depicts the trial of Oath Keepers leader Stewart Rhodes, left, as he test...

Associated Press

Officers describe chaos, fear on Jan. 6 as judge weighs prison time for Oath Keepers’ Rhodes

Police officers who defended the U.S. Capitol on Jan. 6, 2021, and public servants who fled the mob's attack told a judge on Wednesday that they are still haunted by what they endured, as the judge prepares to hand down sentences in a landmark Capitol riot case.

3 days ago

Pride month merchandise is displayed at the front of a Target store in Hackensack, N.J., Wednesday,...

Associated Press

Target on the defensive after removing LGBTQ+-themed products

Target once distinguished itself as being boldly supportive of the LGBTQ+ community.

4 days ago

(Photo By Tom Williams/CQ Roll Call via Getty Images)...

Associated Press

Former Arizona television journalist announces bid for Schweikert’s US House seat

A former Phoenix television journalist announced her candidacy Wednesday for the congressional seat currently held by seven-term Republican Rep. David Schweikert.

4 days ago

Tortoise by Henry Davis earned an honorable mention in the "Adventures in Nature” student photo c...

Associated Press

When you adopt a desert tortoise, prepare for a surprisingly social and zippy pet

They’re not fluffy, they don’t play fetch and they certainly don’t roll over. But there is such a thing as a lap tortoise.

5 days ago

Sponsored Articles

...

re:vitalize

Why drug-free weight loss still matters

Wanting to lose weight is a common goal for many people as they progress throughout life, but choosing between a holistic approach or to take medicine can be a tough decision.

...

OCD & Anxiety Treatment Center

How to identify the symptoms of 3 common anxiety disorders

Living with an anxiety disorder can be debilitating and cause significant stress for those who suffer from the condition.

(Photo by Michael Matthey/picture alliance via Getty Images)...

Cox Communications

Valley Boys & Girls Club uses esports to help kids make healthy choices

KTAR’s Community Spotlight focuses on the Boys & Girls Club of the Valley and the work to incorporate esports into children's lives.

Venezuela’s Guaidó wins UK court ruling in battle over gold