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| U.K. Judge Denies Nicolás Maduro Access to Venezuelan Gold at Bank of England | U.K. Judge Denies Nicolás Maduro Access to Venezuelan Gold at Bank of England |
| (32 minutes later) | |
| LONDON — A British judge ruled on Thursday that President Nicolás Maduro of Venezuela cannot get access to at least $1 billion in gold in a Bank of England vault, on the basis that Britain does not recognize him as the leader of the Latin American country battered by economic sanctions and the coronavirus. | LONDON — A British judge ruled on Thursday that President Nicolás Maduro of Venezuela cannot get access to at least $1 billion in gold in a Bank of England vault, on the basis that Britain does not recognize him as the leader of the Latin American country battered by economic sanctions and the coronavirus. |
| Like many Western countries, including the United States, the British government has “unequivocally recognized” the opposition leader Juan Guaidó as the country’s interim president, a London high court judge, Nigel Teare, said in his ruling, adding that it was therefore unlawful to give the gold to Mr. Maduro. | Like many Western countries, including the United States, the British government has “unequivocally recognized” the opposition leader Juan Guaidó as the country’s interim president, a London high court judge, Nigel Teare, said in his ruling, adding that it was therefore unlawful to give the gold to Mr. Maduro. |
| The ruling was the latest blow to Mr. Maduro and his faltering efforts to revive the ailing economy in Venezuela, where the government has most recently struggled to tackle the coronavirus pandemic with a once-robust health care system now depleted of its most basic needs. | The ruling was the latest blow to Mr. Maduro and his faltering efforts to revive the ailing economy in Venezuela, where the government has most recently struggled to tackle the coronavirus pandemic with a once-robust health care system now depleted of its most basic needs. |
| The Central Bank of Venezuela had sought access to the gold reserves in Britain, prompting a legal fight over who had the authority to seek their release — Mr. Guaidó, officially the head of the Venezuelan Parliament, or Mr. Maduro’s government. | The Central Bank of Venezuela had sought access to the gold reserves in Britain, prompting a legal fight over who had the authority to seek their release — Mr. Guaidó, officially the head of the Venezuelan Parliament, or Mr. Maduro’s government. |
| The bank has long stored stashes of gold at the Bank of England, which has the world’s second largest reserve of gold behind the New York Federal Reserve. | The bank has long stored stashes of gold at the Bank of England, which has the world’s second largest reserve of gold behind the New York Federal Reserve. |
| Mr. Maduro’s government said earlier this year that funds raised from selling the equivalent of $1 billion of Venezuela’s gold reserves would be rerouted through the United Nations Development Program to buy equipment and medicines to combat the coronavirus pandemic. | |
| Sanctions have helped crush the Venezuelan economy, but food, medical supplies and humanitarian efforts are exempt from British sanctions on the country. The Bank of England refused to release the gold, and the Central Bank of Venezuela responded by filing a lawsuit in May. | Sanctions have helped crush the Venezuelan economy, but food, medical supplies and humanitarian efforts are exempt from British sanctions on the country. The Bank of England refused to release the gold, and the Central Bank of Venezuela responded by filing a lawsuit in May. |
| Sarosh Zaiwalla, a lawyer representing the Venezuelan bank, said in a statement that the ruling “entirely ignores the reality of the situation on the ground,” and that it would appeal the decision. | Sarosh Zaiwalla, a lawyer representing the Venezuelan bank, said in a statement that the ruling “entirely ignores the reality of the situation on the ground,” and that it would appeal the decision. |
| “Mr. Maduro’s 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,” Mr. Zaiwalla said. | “Mr. Maduro’s 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,” Mr. Zaiwalla said. |
| Vanessa Neumann, Mr. Guaidó’s representative in Britain, thanked the British government in a message posted on Twitter “for standing up for Venezuelan democracy.” | Vanessa Neumann, Mr. Guaidó’s representative in Britain, thanked the British government in a message posted on Twitter “for standing up for Venezuelan democracy.” |
| Mr. Maduro unsuccessfully tried to withdraw the gold from Britain since 2018, as he grew wary that the gold could be caught up in international sanctions. Venezuela relies on oil but it also is not of short of gold, and it has become dependent on the hard currency it can raise from gold sales to import basic products and consumer goods. | Mr. Maduro unsuccessfully tried to withdraw the gold from Britain since 2018, as he grew wary that the gold could be caught up in international sanctions. Venezuela relies on oil but it also is not of short of gold, and it has become dependent on the hard currency it can raise from gold sales to import basic products and consumer goods. |
| In early 2019, after the Bank of England refused to hand the gold to the Bank of Venezuela, Mr. Guaidó urged the then-prime minister, Theresa May, to grant him access to the reserve, but she rejected the request. | In early 2019, after the Bank of England refused to hand the gold to the Bank of Venezuela, Mr. Guaidó urged the then-prime minister, Theresa May, to grant him access to the reserve, but she rejected the request. |
| British officials have repeatedly sided with the United States in maintaining sanctions against Venezuela. Mr. Trump’s former national security advisor John Bolton, in his recent book about his time at the White House, recounted how in 2019, Britain’s foreign minister at the time, Jeremy Hunt, “was delighted to cooperate on steps they could take, for example freezing Venezuelan deposits in the Bank of England, so the regime could not sell the gold to keep itself going.” | British officials have repeatedly sided with the United States in maintaining sanctions against Venezuela. Mr. Trump’s former national security advisor John Bolton, in his recent book about his time at the White House, recounted how in 2019, Britain’s foreign minister at the time, Jeremy Hunt, “was delighted to cooperate on steps they could take, for example freezing Venezuelan deposits in the Bank of England, so the regime could not sell the gold to keep itself going.” |
| It was unclear whether Thursday’s ruling means that Mr. Guaidó could now claim the gold. The 36-year-old politician met with President Trump and dozens of world leaders early this year, but his appeal has dwindled at home and his rallies have drawn ever-smaller crowds. | It was unclear whether Thursday’s ruling means that Mr. Guaidó could now claim the gold. The 36-year-old politician met with President Trump and dozens of world leaders early this year, but his appeal has dwindled at home and his rallies have drawn ever-smaller crowds. |
| Venezuela’s economy, relying on the some of the world’s largest oil reserves and devastated by American sanctions, has been in survival mode, according to experts, with the already dismal situation made worse after oil prices plummeted in March. | Venezuela’s economy, relying on the some of the world’s largest oil reserves and devastated by American sanctions, has been in survival mode, according to experts, with the already dismal situation made worse after oil prices plummeted in March. |
| The coronavirus has added to Venezuela’s woes. The authorities have reported over 6,000 coronavirus cases and 54 deaths, but human rights groups have argued that the government is likely lowballing the numbers. | The coronavirus has added to Venezuela’s woes. The authorities have reported over 6,000 coronavirus cases and 54 deaths, but human rights groups have argued that the government is likely lowballing the numbers. |
| “The real number is almost certainly much higher, given the limited availability of reliable testing, limited transparency, and the persecution of medical professionals and journalists who report on this issue,” researchers at Human Rights Watch and John Hopkins University wrote in May. | “The real number is almost certainly much higher, given the limited availability of reliable testing, limited transparency, and the persecution of medical professionals and journalists who report on this issue,” researchers at Human Rights Watch and John Hopkins University wrote in May. |