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Reuters
Reuters
Politics

Britain's High Court rules against Venezuela's Maduro in latest gold battle

FILE PHOTO: Venezuela's President Nicolas Maduro looks on during a meeting with Alejandro Dominguez, president of the South American Football Confederation CONMEBOL, at the Miraflores Palace, in Caracas, Venezuela July 11, 2022. REUTERS/Leonardo Fernandez Viloria

Britain's High Court rejected Nicolas Maduro's latest efforts on Friday to get control of more than $1 billion of Venezuela's gold reserves stored in the Bank of England's underground vaults in London.

The court ruled that judgements by the Maduro-backed Venezuelan Supreme Court that the gold should be moved from London should be disregarded.

It marked the latest victory for Venezuela's opposition leader Juan Guaido, who has won a series of legal clashes over the gold after the UK government recognised him rather than Maduro as the Latin American country's president.

"I have.. concluded that the Guaidó Board succeeds: that the STJ (Venezuelan supreme court) judgments are not capable of being recognised," The judge in the case said.

Lawyers for the Maduro-backed Venezuelan Central Bank said the bank was considering an appeal.

(Reporting by Marc Jones; editing by Michael Holden)

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