Beautiful Virgin Islands

Monday, Jul 14, 2025

UK says it sees Guaido as Venezuela’s ‘only legitimate president’ ahead of appeal hearing in battle for blocked gold

UK says it sees Guaido as Venezuela’s ‘only legitimate president’ ahead of appeal hearing in battle for blocked gold

The British Foreign Office has backed Venezuela’s opposition figurehead Juan Guaido in his battle for the country’s gold reserves. A court ruled earlier that London may have recognized President Nicolas Maduro as de facto leader.

While the European Union no longer formally recognizes Guaido as Venezuela’s interim president after he was ousted as head of parliament last year, the British government continues to throw its weight behind the opposition politician even after the UK Court of Appeals ruled back in October that such a stance may not reflect the reality on the ground.

Guaido, who vies for access to Venezuela’s $1 billion worth of gold reserves held up at the Bank of England, challenged the ruling, and the UK Supreme Court is set to hear the case on Monday.

In a statement to the court, the British Foreign Office said London sees Guaido as “the only individual recognized to have the authority to act on behalf of Venezuela as its head of state,” while endorsing regime change and calling for “a peaceful transition to democracy.”

"The UK government is clear that Juan Guaido has been recognised by Her Majesty’s Government since February 2019 as the only legitimate President of Venezuela"


In what was seen as a blow to Guaido and his supporters’ aspirations to get hold of the gold reserves, the UK Court of Appeals said in October that the case should be reconsidered after a lower court had ruled in favor of Guaido. While not awarding control over the reserves to either of the parties, the appeals court called Guaido’s recognition by London “at any rate less than unequivocal” and argued that it “leaves open the possibility that HMG [Her Majesty’s Government] may impliedly recognise Mr Maduro as the de facto President of Venezuela’’ as opposed to Guaido being the de jure leader.

The Venezuelan central bank (BCV), loyal to Caracas, has long argued that the Bank of England’s failure to release the funds has imperiled the sanctions-hit nation’s fight against the Covid-19 pandemic. In March, Maduro said Caracas would like to use some of the billions of the country’s funds blocked in foreign bank accounts, including in the UK, to purchase vaccines through the World Health Organization-led COVAX mechanism, but was unable to do so.

In January, lawyers representing BCV claimed Guaido shut down a proposal for his alternative “Ad Hoc” board of the national bank to pool efforts with Caracas in the fight against the virus and transfer some $120 million in funds held in Britain to the Gavi Alliance Covax Facility to secure the jabs.

While Guaido’s representatives rejected the claim as “false,” a letter allegedly drafted by Guaido’s legal team stated that he “cannot consent” to the proposal.

“Our clients will not lend their support to arrangements which ultimately leave it to the Maduro regime to decide who gets vaccinated,” the letter, allegedly penned by Guaido’s legal counsel Arnold & Porter in December and shared on social media, read.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
×