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London does not recognize him President.

UK high court decided to deny the government of Venezuela in access to gold bars from Venezuelan gold reserves held by the Bank of England. In the court’s decision explains that Britain recognizes the legitimate leader of Venezuela’s opposition leader Juan of Guido, not the dictatorNicolas Maduro, the BBC reported.

Juan Guido leads the opposition of Venezuela and last year declared himself acting President.

Earlier, the government Maduro tried to pick up from the Bank of England gold in the amount of $ 1 billion, citing the need to spend this amount to fight the epidemic of coronavirus in Venezuela. Having been refused, team Maduro has asked the UN to mediate and in may filed a lawsuit, demanding the bullion the UN Food program.

The lawyers of the Central Bank of Venezuela promised to appeal the decision of the High court. According to one of them, from the opinion of the court should be that Britain does not recognize Nicolas Maduro President of Venezuela de jure, but acknowledges de facto. In Caracas is a British diplomatic mission, said the lawyer, and in London, Venezuela is the Ambassador, appointed Maduro.

Besides, say lawyers of the Central Bank, a British court has completely ignored the real situation in Venezuela, and it is such that all administrative agencies and ministries submit to the government of Maduro.

According to experts, the current situation is a big blow for Maduro and his team. They are experiencing serious financial difficulties due to current in relation to Venezuela international sanctions.

As developed in the case

In the Bank of England say to them at the same time received two requests: one from the government of Maduro on the results of gold bullion, the other from his opponent Juan of Guido with the requirement to refuse Maduro.

The team of Guido claimed that the money will be spent to fight the epidemic, and corruption schemes.

When the case came to court, the Bank of England is recommended to proceed from one who, in the opinion of the UK, is the legitimate leader of Venezuela.

Foreign Minister of Britain Dominic Raab met with Juan Guida in January of this year

In the lawsuit stated that the transfer of gold to be held as a matter of urgency as lives are at stake Venezuelan citizens.

A large part of the population do need and constant shortage of food and medicine. In 2019, Venezuela suffered record inflation – 800 thousand percent. Then the country left 4.8 million people.

The government of Nicolas Maduro blames the crisis of international sanctions, and the West accuses Maduro of corruption, ineffective governance and even in covering up drug trafficking.

The Bank of England is the second largest store of gold reserves of different countries after the US Federal reserve in new York, it housed about 400 gold bars.

For the entire 320-year history of the Bank of England was not a single case of theft of gold or hacking of the room.

Central banks of many countries prefer to keep their gold reserves in vaults checked on neutral territory.

Usually, the procedure of issuing gold back simple, if the recipient does not cause the preserving part, no doubt. Difficulties may arise in case of policy changes, such as those that occurred in Venezuela.