Control Of Venezuelan Gold Held In London Cast Into Doubt

CARACAS, Venezuela: A British court on Monday threw into question who controls nearly $2 billion in Venezuelan gold stowed in a London bank vault amid a power struggle between President Nicols Maduro and his leading rival.

The appeals court ruling set aside a British judges earlier decision granting control of the bullion to U.S.-backed opposition leader Juan Guaid.

Britain recognizes Guaid as Venezuela’s legitimate leader, while also holding diplomatic ties with Maduro. The appeals court has ordered a deeper investigation into the matter before either side is given access to the gold.

Maduro has demanded the gold. But the central bank for the United Kingdom had refused to hand it over to his government and a judge in July sided with Guaid.

Sarosh Zaiwalla, an attorney who represents Venezuelas Central Bank, praised Monday’s decision giving the case further consideration.

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