Four years ago, the UK government recognised Juan Guaidó as Venezuela’s president. He’s now gone, but the Bank of England is still holding some of the country’s key assets.
JOHN McEVOY
JOHN McEVOY
Part 3 - ‘Delighted’ to freeze Venezuela’s gold
The Foreign Office is refusing to say whether its officials or ministers have had discussions with counterparts in the United States on the Venezuelan gold stored in the Bank of England since 2019.
In response to a Freedom of Information request, it also claimed that “the release of information relating to this case could harm our relations with the United States of America and Venezuela”.
Yet according to Bolton, Hunt was “delighted” to help with Washington’s destabilisation campaign in Venezuela, “for example freezing Venezuelan gold deposits in the Bank of England”.
The Bank’s directors, however, were uneasy about the legal implications of freezing a foreign state’s assets. The Bank of England had already refused to release Venezuela’s gold in 2018, citing doubts over the legitimacy of Maduro’s government, though they were on shaky legal ground.
The Foreign Office worked to ease their nerves. On 25 January 2019, Alan Duncan, the minister of state for Europe and the Americas, wrote in his diary that he held a phone call with Mark Carney, Governor of the Bank of England, about Venezuela’s gold. He wrote:
In response to a Freedom of Information request, it also claimed that “the release of information relating to this case could harm our relations with the United States of America and Venezuela”.
Yet according to Bolton, Hunt was “delighted” to help with Washington’s destabilisation campaign in Venezuela, “for example freezing Venezuelan gold deposits in the Bank of England”.
The Bank’s directors, however, were uneasy about the legal implications of freezing a foreign state’s assets. The Bank of England had already refused to release Venezuela’s gold in 2018, citing doubts over the legitimacy of Maduro’s government, though they were on shaky legal ground.
The Foreign Office worked to ease their nerves. On 25 January 2019, Alan Duncan, the minister of state for Europe and the Americas, wrote in his diary that he held a phone call with Mark Carney, Governor of the Bank of England, about Venezuela’s gold. He wrote:
“I tell Carney that I fully appreciate that, although it’s a decision for the Bank, he needs a measure of political air cover from us. I tell him I will write him the most robust letter I can get through the FCO lawyers, and it will outline the growing doubts over Maduro’s legitimacy and explain that many countries no longer consider him to be the country’s President”.
In other words, the Bank of England required a robust legal rationale for keeping Venezuela’s gold frozen, and the Foreign Office was happy to provide it with one.
One week later, on 4 February, Hunt went one step further by issuing an official statement recognising Guaidó “as the constitutional interim President of Venezuela, until credible presidential elections can be held”.
In other words, the Bank of England required a robust legal rationale for keeping Venezuela’s gold frozen, and the Foreign Office was happy to provide it with one.
One week later, on 4 February, Hunt went one step further by issuing an official statement recognising Guaidó “as the constitutional interim President of Venezuela, until credible presidential elections can be held”.
With this, the UK government had committed to the Washington-backed coup effort. Hunt apparently declared: “Venezuela is in their back yard, and it’s probably the only foreign adventure they might just pursue”.
When the Foreign Office was asked in parliament this month whether it received legal advice in recognising Guaidó as president, it replied “We do not comment on when legal advice has been received”.
When the Foreign Office was asked in parliament this month whether it received legal advice in recognising Guaidó as president, it replied “We do not comment on when legal advice has been received”.
Have you considered the possibility that the English have already stolen the gold?
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