A UK foreign office minister has suggested that the Bank of England grant access to £1.2bn in Venezuelan gold reserves to the self-proclaimed interim leader Juan Guaido rather than Nicolás Maduro.

In a statement to British MPs, Sir Alan Duncan said the decision was a matter for the Bank and its governor, Mark Carney, and not the government. But he added: “It is they who have to make a decision on this, but no doubt when they do so they will take into account there are now a large number of countries across the world questioning the legitimacy of Nicolas Maduroand recognizing that of Juan Guaidó.”

Guaidó has already written to Theresa May asking for the funds to be sent to him.