The U.K. Supreme Court ruled Monday that Venezuelan opposition leader Juan Guaidó should be recognized as the nation’s interim president in a case that will ultimately determine who controls almost $2 billion of gold held by the Bank of England.
A five-judge panel unanimously agreed that British courts must honor the U.K. government’s 2019 decision to recognize Guaidó as interim president. The question is central to the case because Guaidó and President Nicolás Maduro have named separate boards to oversee Venezuela’s central bank and both have laid claim to the gold.
But the case isn’t over. The Supreme Court sent it back to a lower court to decide whether the Guaidó board has any legal standing after Venezuela’s Supreme Tribunal of Justice declared Guaidó’s appointments unconstitutional.
Guaidó said he welcomed the ruling and looked forward to demonstrating why the U.K. courts shouldn’t recognize the decisions of the Supreme Tribunal.