In this March 12, 2020 file photo, Venezuelan President Nicolas Maduro speaks during a press conference at the Miraflores Presidential Palace in Caracas, Venezuela. A British judge on Thursday, July 2, 2020, refused to give Venezuela control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to President Nicolas Maduro since Britain does not recognize him as the president. Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. (AP Photo/Matias Delacroix, File)
LONDON 鈥� A British judge on Thursday refused to give Venezuela鈥檚 Nicol谩s Maduro control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the socialist leader since Britain does not recognize him as president of the Latin American nation.
Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. But the central bank for the United Kingdom, whose government recognizes Venezuelan opposition leader Juan Guaid贸 as his country鈥檚 legitimate leader, had refused to hand it over to Maduro鈥檚 socialist administration.
The ruling clarifies the question of who is Venezuela鈥檚 legitimate leader 鈥� at least in the eyes of one world power.
Guaid贸 has sought to preserve the gold stash at the Bank of England to keep it out of the hands of the Maduro government, which it contends is illegitimate and corrupt. His lawyers reiterated during a recent four-day hearing their stance that the National Assembly leader became Venezuela鈥檚 rightful leader under provisions of the country鈥檚 constitution.
The dispute hinged on the British stance toward Venezuela, a country in economic and political crisis where both Maduro and Guaid贸 have been claiming presidential powers for more than a year.
Venezuela鈥檚 Central Bank sought to release the gold, which it says now that it wants to sell for food and medical equipment that is desperately needed to tackle the COVID-19 pandemic. But it had also sought the gold before the pandemic began.
A lawyer representing Maduro鈥檚 side promised to appeal. Sarosh Zaiwalla said in a statement that the judgment 鈥渆ntirely ignores the reality of the situation on the ground鈥� in Venezuela.
鈥淢r. Maduro鈥檚 government is in complete control of Venezuela and its administrative institutions, and only it can ensure the distribution of the humanitarian relief and medical supplies needed to combat the coronavirus pandemic,鈥� he said. 鈥淭his outcome will now delay matters further, to the detriment of the Venezuelan people whose lives are at risk.鈥�
The U.K. recognizes the claim of Guaid贸, who heads Venezuela鈥檚 congress, as does the United States and about five dozen other governments. Guaid贸 proclaimed himself the interim president in early 2019, months after Maduro declared victory in an election that his critics say was rigged in his favor.
Despite its support for Guaid贸, the U.K. continues to have diplomatic ties with Maduro鈥檚 government.
The British have not granted diplomatic credentials to the envoy that Guaid贸 has named ambassador to the U.K.