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The Swiss government said on Monday that it had decided to freeze any assets held in Switzerland by the deposed Venezuelan president Nicolas Maduro or his associates “with immediate effect”.
Bern said it had reached its decision after Maduro was seized in Caracas in a shock US military operation, and brought to New York to face narcotrafficking charges.
Describing the situation as “volatile”, the Swiss government said in a statement that it wanted to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation.
“It has therefore decided, as a precautionary measure, to freeze any assets held in Switzerland by Mr Maduro and other persons associated with him,” it said.
The government added that should future legal proceedings reveal that the funds were illicitly acquired, Switzerland will endeavour to ensure that they benefit the Venezuelan people.
“The asset freeze does not affect any members of the current Venezuelan government,” it added.
The move, decided under Switzerland’s Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons, comes in addition to existing sanctions on Venezuela in force since 2018, which also include asset freezes, the government said.
The government said it was closely monitoring the situation unfolding in Venezuela and called for “for de-escalation, restraint and compliance with international law, including the prohibition of the use of force and the principle of respect for territorial integrity”.
