Venezuela and Britain seek closer ties amid their gold dispute.Venezuelan Foreign Minister Yvn Gil and UKs Charg dAffaires in Venezuela, Colin Dick met in Caracas despite a gold dispute at the Bank of England.Gil said its a chance to boost ties with equality and respect on social media.He mentioned the Bolivarian revolutions aim to maintain good communication with the UK, which doubts Maduros governments legitimacy.Colin Dick, newly appointed this month, was Commissioner for Barbados and the Caribbean from 2013-2017 and later acted as director of the UK Department for Exiting the European Union from 2017-2019.Venezuela and Britain seek closer ties amid gold dispute.
(Photo Internet reproduction)He arrived in Caracas after the London Court of Appeal rejected a Central Bank of Venezuela (BCV) appeal two months ago.The appeal opposed a July 29, 2022, ruling that gave authority over the Bank of England deposited gold to an opposition-appointed board.The UK judiciary once recognized Guaid as interim president when he appointed his BCV board, a stance now reversed by fifty countries.The English court deemed the opposition leaders decisions as sovereign acts, a view dismissed by Maduros administration, which intends to initiate a new lawsuit in the High Court.The dispute encompasses access to US$1.95 billion in Venezuelan gold reserves at the Bank of England and an additional US$120 million from a Deutsche Bank transaction.This ongoing legal battle has significant implications for the Venezuelan economy, which has been struggling under the weight of international sanctions, hyperinflation, and a severe humanitarian crisis.The gold reserves in question are a crucial asset for the Maduro government, which has been seeking access to them to alleviate the economic crisis in the country.