Economy / FinanceEuropeSouth America

UK Court of Appeal rules in favor of Venezuela over blocked gold

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Venezuela has moved closer to securing control over its own gold reserves after the England and Wales Court of Appeal (EWCA) overturned an earlier High Court ruling which sided with the British government position. The High Court judgment in July had found that the British government’s recognition of self-appointed Venezuelan opposition “leader”, Juan Guaidó, as the “constitutional interim president” of the South American country was “conclusive”. The Bank of England (the UK’s central bank), where is the gold is held, has used the UK government’s position as an excuse to effectively block Venezuela’s gold. Earlier this year Venezuela’s central bank…

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