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On May 14, the Central Bank of Venezuela sued the Bank of England to obtain its gold bars.
The United Kingdom's High Court Thursday decided that opposition lawmaker Juan Guaido can access 31 tons of Venezuelan gold held in the Bank of England, which prevents President Nicolas Maduro's administration from using those resources to fight the pandemic.
The ruling about this monetary reserve valued at over US $ 1 billion occurs after months of disputes between Venezuela and the Bank of England, which denied the constitutionally constituted government access to its own resources
On May 14, the Central Bank of Venezuela (BCV) sued the Bank of England to obtain and sell the Venezuelan gold bars.
The South American country intends to sell the resources to the United Nations Development Program (UNDP), and so gain food and medicine needed amid pandemic.
Bank of England froze over $1.2 billion worth of Venezuela’s gold refusing to release it to the democratically elected government. Now Venezuela is suing the Bank of England and the trial is happening this week!https://t.co/dZCjMivKSCpic.twitter.com/4e5uzMA3Pb