Switzerland Freezes Assets Linked to Venezuela's Maduro

Switzerland has frozen assets in the country held by Nicolas Maduro and associates following his arrest by U.S. forces. This preventive measure is effective for four years and comes in addition to existing sanctions on Venezuela. Legitimate funds will be returned to benefit Venezuelans.

In a significant move, Switzerland has announced the freezing of assets held within its borders associated with Venezuela's Nicolas Maduro and his colleagues. This decision follows Maduro's recent apprehension by U.S. forces in Caracas and subsequent extradition to the United States.

The asset freeze, which took immediate effect and is set to last for four years, is intended to curb the potential outflow of improperly acquired finances. This action supplements the existing measures imposed on Venezuela since 2018, according to an announcement from the Federal Council.

Importantly, officials clarified that the freeze does not impact members of the current Venezuelan government. Switzerland has also vowed to endeavor to return any discovered illicit funds for the benefit of the Venezuelan populace.

(With inputs from agencies.)