After that, you may find yourself in a regulatory dead end. The 31 tonnes of gold has been the subject of a dispute between current president Nicolás Maduro and Juan Guaido since 2019, when Guaidó merged a parallel government.
Status of Venezuelan gold in Bank of England unknown
Status of Venezuelan gold caches guarded in Bank of England vaults in London . The 31 tons of gold (1.02 million troy ounces) were worth more than $1.85 billion and were contested by his two governments in this country. in 2019 after challenging the legitimacy of the presidential election.
A British court ruled in Guaidó’s favor in July, but the dissolution of the government, which was enacted during the session of the elected Legislative Assembly in 2015, would not allow the money and other Venezuelan offshore Calling the future potential of the assets into question, some legislators argue that Maduro could open the door for valid claims on these.
Deputy Freddie Guevara alluded to this possibility during the session. He said:
that there was no prior consultation with the international community regarding the approval of this reform. They have made it clear abroad that the reform does not guarantee the protection of foreign assets. How can I fly into the void?
Seventy-two MPs voted in favor of dismantling the Caretaker Government, 29 opposed the measure and eight MPs abstained.
Safeguards
When the Caretaker Government was dissolved, a parallel Legislative Assembly formed the Council and Asset Protection to protect Venezuelan assets and companies abroad. , was tasked with organizing. The Board, united by her five members and backed by parliamentary legitimacy, has full powers to administer these responsibilities.
But the structure is new and he is not included in any of the 52 trials around the world involving more than $40 billion in disputes between the two governments. Deputy Juan Miguel Mateus criticized the idea, saying these assets were not at risk because they are under the control of a government that supports the “democratic struggle” that the Venezuelan people are currently fighting.
This, however, drew fierce criticism from other legislators who argued that the transitional government was the only guarantee that these assets would be recovered, as Guaidó is internationally recognized.
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