Venezuela

Crispin Blunt Excerpts

Monday 28th January 2019 Commons Chamber

[Sir Alan Duncan]

The hon. Gentleman is absolutely right. One of the reasons why the United Nations is interested is that this is not a domestic issue for Venezuela; it has regional and therefore international implications. One of those implications, as I said in my opening response, is that Venezuela is harbouring some of the elements who would undermine the peace process in Colombia. He is absolutely right, and he has a long-standing interest in and has supported the Colombian peace process. We need to understand that process fully and to realise that these matters are linked. Therefore, solving the problem in Venezuela can significantly help with the challenges, which are increasing, in Colombia.

[Crispin Blunt (Reigate) (Con)]

It is seven weeks since one of my hon. Friends wrote to the Chancellor of the Exchequer and the chairman of the Bank of England about the gold being held on behalf of the central bank of Venezuela. I followed that up with letters to the Governor, the Chancellor and the Foreign Secretary. Is my right hon. Friend aware that the first letter sent to a foreign Head of Government by interim President Guaidó was to the Prime Minister on 26 January about the gold being held on behalf of the central bank of Venezuela? The president of the central bank of Venezuela is unconstitutionally appointed, because he has not been approved by the national assembly. What are our Government going to do?

[Sir Alan Duncan]

I am aware of the letter, and, for the benefit of Members, if they do not know already, I confirm that the Bank of England holds a significant amount of Venezuela’s gold under a contract. The answer to my hon. Friend is that this is a decision for the Bank of England, not the Government. It has to make the decision on this, and no doubt when it does so it will take into account that many countries across the world are now questioning the legitimacy of Nicolás Maduro and recognising that of Juan Guaidó.