UK acknowledges Opposition Leader Juan Guaido as legitimate President of Venezuela

The United Kingdom has recognised Opposition Leader Juan Guaido as Venezuela's President on Monday. The recent move by the British government comes after incumbent Venezuelan President Nicolas Maduro reiterated to bring nearly $1 billion of the Venezuelan gold stored in London to the Central Bank. According to reports, representatives of both the Venezuelan politicians will confer their opinions before the UK Supreme Court. The legal team of the Central Bank, which has the backing of the incumbent President, has said that the country has been facing economic turbulence due to the COVID-19 pandemic and selling of the gold would provide additional assistance to the current situation.

British Foreign Office also lends its support to Guaido 

Meanwhile, clearing its position, the British Foreign Office, on being invited by the Supreme Court to present its opinion, has reiterated that it has recognised Juan Guaido as Venezuelan's legitimate President since 2019. While maintaining the government's stance, a Foreign Office spokesperson also said that Juan Guaido is the only legitimate person with the right to act on behalf of Venezuela and added that the country needs him to maintain a peaceful transition to democracy.

Country nose-dive into political crisis since 2019

The country plunged into a political crisis when Guaido proclaimed himself interim President in a bid to oust re-elected President Nicolas Maduro from power. However, the socialist Simon Bolivar Great Patriotic Pole alliance (GPPSB), which includes Maduro's United Socialist Party of Venezuela, brought the support of 91.34 per cent of the parliamentary seats. The GPPSB alliance received 4,317,819 votes, winning 253 out of 277 seats in the National Assembly. 

After securing a tremendous win, UK Prime Minister Boris Johnson said that the country would impose some sanctions on Venezuela to defend a legitimate President. Subsequently, Prime Minister Johnson convinced 13 more countries to consider Guaido a legitimate president. Comprehending the uprising sanctions against the incumbent government, the Central Bank asked the Bank of England to repatriate its gold worth $1 billion, which is currently stored in London.

(With inputs from ANI)

(Image Credit: AP)