The appeal introduced by the Venezuelan government to recover the gold deposited in the Bank of England was rejected this Friday by judges Sarah Falk, Stephen Males and Stephen Phillips of the London court of appeals.

“The Venezuelan gold reserves that have been claimed amount to a value of US$ 1,950 million (about 1,780 million euros), in addition to another US$ 120 million (109 million euros) more coming from an exchange with the German entity Deutsche Bank”.

The Central Bank of Venezuela filed the appeal to request the release and return of the gold before Juan Guaidó was removed as the alleged “interim president” of the country.

The British Commercial Court has not yet made a decision on this new political and economic reality in Venezuela. For their part, authorities in the South American country could be preparing a subsequent appeal in order to recover the gold retained in the Bank of England.

The process of lawsuits, appeals and other complications in the case of the gold that was awarded at the time to Guaidó has taken three years.

M.Pino

Source: americaeconomia

(Reference image source: Unsplash, in collaboration with Planet Volumes)

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