GENEVA: The Swiss government has announced the immediate freezing of assets belonging to Venezuela’s detained president Nicolas Maduro and his close associates.
The move aims to prevent any transfer of assets out of the country and to ensure that, if proven to have been acquired illegally, the funds can eventually be returned to the Venezuelan people.
According to Reuters, Switzerland decided to freeze all assets held within its jurisdiction by Maduro and individuals closely linked to him. The decision follows Maduro’s arrest by U.S. forces and his subsequent transfer to the United States.
Switzerland’s Federal Council said that the asset freeze took effect immediately and will remain in place for four years. Officials stated that the measure is precautionary in nature and is intended to block the possible movement of illicit funds abroad.
The action is in addition to sanctions that Switzerland has already imposed on Venezuela since 2018.
The Federal Council clarified that members of Venezuela’s current government will not be affected by the freeze. It also emphasized Switzerland’s commitment to returning any illegally obtained assets for the benefit of the Venezuelan people.
In its statement, the Swiss government noted that the political situation in Venezuela remains unstable, with multiple possible outcomes in the coming days and weeks.
Switzerland said it is closely monitoring developments, urging restraint, and offering its support for a peaceful resolution to the crisis.
