The Swiss government has frozen assets held in Switzerland by associates of Venezuela’s Nicolas Maduro. This action follows Maduro’s reported arrest by U.S. forces in Caracas and his subsequent transfer to the United States. A spokesperson for the Swiss Foreign Ministry confirmed that the order impacts 37 individuals. The ministry was unable to provide specifics regarding the value of the assets affected by the freeze.
The measure, which took immediate effect and is valid for four years, aims to prevent the outflow of potentially illicit assets. It supplements existing sanctions that have been in place against Venezuela since 2018, according to a government statement released on Monday. The Swiss government is dedicated to upholding financial integrity and preventing the misuse of its banking system for illicit gains.
Notably, the asset freeze does not extend to members of the current Venezuelan government. Switzerland has stated its intention to return any funds found to have been acquired illicitly, ensuring that they benefit the Venezuelan people. The government acknowledged the volatile situation in Venezuela, highlighting the uncertainty of future developments and underscoring the need for preventative measures.
Switzerland is closely monitoring the situation and has called for de-escalation and restraint. Furthermore, it has offered its services to facilitate a peaceful resolution to the ongoing crisis. The asset freeze is a precautionary step, applying to Maduro and his associates in their capacity as foreign politically exposed persons. The Federal Council aims to ensure that any illicitly obtained assets are not transferred out of Switzerland during this period of instability.
