Switzerland freezes assets linked to Venezuela’s Maduro after US arrest

Switzerland has frozen any assets held in the country by Venezuela’s Nicolas Maduro and associates, the governing Federal Council said on Monday, following his arrest by U.S. forces in Caracas and transfer to the United States.

The measure, effective immediately and valid for four years, aims to prevent an outflow of potentially illicit assets and comes in addition to existing sanctions imposed on Venezuela since 2018, the statement said.

The asset freeze does not affect members of the current Venezuelan government, and Switzerland said it will seek to return any funds found to be illicitly acquired to benefit the Venezuelan people.

The Federal Council said the situation in Venezuela was volatile, with various outcomes possible in the coming days and weeks.

It said it was following the situation closely, and called for de-escalation and restraint, while also offering its good offices to find a peaceful solution.

“The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” it said.

The asset freeze was a precautionary measure and applied to Maduro and his associates as foreign politically exposed persons, the government said.

No figures were given and the government did not immediately reply to a request for comment on what, if any assets, Maduro and his associates, held in Switzerland.

Source: Reuters

- Agencies