The British judiciary rejected a petition to recover Venezuela’s gold in the Bank of England

Madrid, June 30 (European Press) –

On Friday, the Court of Appeal in London rejected an appeal by the Central Bank of Venezuela to return gold deposited in the Bank of England to the country.

This plea came before Juan Guaidó was ousted from the putative interim presidency of Venezuela by his opposition, and was greatly overshadowed by the changing situation on the ground.

In this scenario, the government of Venezuela could prepare another lawsuit to recover the gold held in the British vaults.

The next step, as the Court of Appeal has made clear, is for the Commercial Court to consider the impact of these changed circumstances, including the UK government’s withdrawal of recognition of Guaido after recent political events in Venezuela.

Juan Guaidó was removed from his supposed position as interim President of Venezuela by the decision of the Venezuelan opposition on December 30, 2022. At the moment, no date has been set for the hearing in the Commercial Court.

The claimed Venezuelan gold reserve is worth $1,950 million (about 1,780 million euros), plus another $120 million (109 million euros) from an exchange with the German entity Deutsche Bank.