Switzerland Freezes Assets Linked to Venezuela's Maduro Amid Political Tensions

Switzerland's Federal Council has frozen Venezuelan President Nicolas Maduro's assets and those of his associates within the country. The move follows Maduro's arrest and transfer to the U.S. This precautionary measure aims to prevent illicit asset outflows, excepting current Venezuelan government members, and lasts four years.

In a decisive move, Switzerland's Federal Council announced on Monday a freeze on any assets held within its borders by Venezuelan President Nicolas Maduro and his associates, following his detention by U.S. forces in Caracas and subsequent transfer to the United States.

The measure, effective immediately, will last for four years and is intended to thwart the potential outflow of illicit assets. This step complements existing sanctions imposed on Venezuela since 2018. According to a government statement, the freeze excludes current Venezuelan government members and aims to repatriate any illicitly acquired funds for the Venezuelan people's benefit.

Highlighting the volatility of the Venezuelan situation, the Federal Council urged all parties to exercise restraint and emphasized the need for de-escalation while offering its assistance in seeking a peaceful resolution. There were no immediate comments from the government regarding the extent of assets held by Maduro and his associates in Switzerland.

(With inputs from agencies.)