Venezuelan opposition leader urges Bank of England not to give gold to Maduro

Section:

By Deisy Buitrago
Reuters
Sunday, January 27, 2019

CARACAS -- Venezuelan opposition leader and self-declared president Juan Guaido has asked British authorities to stop President Nicolas Maduro gaining access to gold reserves held in the Bank of England, according to letters released by his party today.

Maduro has been disavowed by a broad group of Western nations and Latin American neighbors that accuse him of undermining democracy, and a growing number of countries have recognized Guaido as legitimate interim leader of the troubled OPEC nation.

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Since last year Maduro's government has been trying to repatriate gold from the Bank of England, fearing it could be caught up in international sanctions against his administration.

Those holdings jumped to around $1.3 billion after Venezuela's central bank closed out a gold swap deal with Deutsche Bank, sources told Reuters last week.

In letters to British Prime Minister Theresa May and Bank of England Governor Mark Carney, Guaido said Maduro government officials were seeking to sell the gold and move the proceeds to Venezuela's central bank.

"I am writing to ask you to stop this illegitimate transaction," wrote Guaido. "If the money is transferred ... it will be used by the illegitimate and kleptocratic regime of Nicolas Maduro to repress and brutalize the Venezuelan people." ...

... For the remainder of the report:

https://www.reuters.com/article/us-venezuela-gold/venezuela-opposition-l...

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