The Swiss government announced on Monday that it has frozen assets held within the country by Venezuela’s Nicolás Maduro and his associates. This action follows the recent arrest of Maduro by U.S. forces in Caracas and his subsequent transfer to the United States.
Scope and Details of the Freeze
A spokesperson for the Swiss Federal Department of Foreign Affairs stated that the asset freeze order affects 37 individuals connected to Maduro. The spokesperson clarified that the ministry could not provide specific details regarding the total value of the assets impacted by this measure.
The Swiss government stated the freeze is effective immediately and will remain valid for a period of four years. It described the action as a precautionary measure specifically targeting Maduro and his circle as foreign politically exposed persons.
Objectives and Existing Sanctions
In an official statement, the government explained the primary aim of the asset freeze is to prevent the outflow of potentially illicit funds from Switzerland amid the current volatile situation. This new measure comes in addition to existing sanctions that Switzerland has imposed on Venezuela since 2018.
The government emphasized its commitment to ensuring that any assets found to have been illicitly acquired would not remain in Switzerland. It stated, “The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” adding that it will seek to return such funds to benefit the Venezuelan people.
Distinction and Diplomatic Stance
The Swiss government specified that the asset freeze does not apply to members of the current Venezuelan government. It also noted that the political situation in Venezuela remains volatile, with various outcomes possible in the coming days and weeks.
Switzerland stated it is closely monitoring developments and called for de-escalation and restraint from all parties involved. The government reiterated its offer to provide its good offices to help facilitate a peaceful solution to the ongoing crisis.
