Switzerland Freezes Assets of Maduro and Associates After His Arrest

Switzerland’s Federal Council announced that it has frozen any assets belonging to former Venezuelan President Nicolas Maduro and his associates held within the country, following his arrest by U.S.

forces in Caracas and subsequent transfer to the United States.

The measure takes immediate effect and will remain in place for four years, aiming to prevent the outflow of assets suspected of being illicitly obtained.

The move adds to the sanctions Switzerland has imposed on Venezuela since 2018.

Swiss authorities stated that the freeze will not affect members of the current Venezuelan government and that any funds confirmed to have been unlawfully acquired will be returned for the benefit of the Venezuelan people.