Switzerland has frozen assets held in the country by Venezuelan President Nicolás Maduro and several of his associates following his arrest by U.S. forces in Caracas and subsequent transfer to the United States.
In a statement issued on Monday, the Swiss government said the asset freeze applies to 37 individuals classified as foreign politically exposed persons.
The measure took effect immediately and will remain in force for four years, with Swiss officials describing it as a precautionary step aimed at preventing the outflow of potentially illicit funds. The move is in addition to sanctions Switzerland has maintained against Venezuela since 2018.
Swiss authorities stressed that the freeze does not apply to members of Venezuela’s current government. The Swiss Federal Council said any assets determined to have been illicitly acquired would be returned for the benefit of the Venezuelan people.
Officials said the political situation in Venezuela remains volatile, with multiple possible outcomes in the days ahead. Switzerland called for restraint and de-escalation while offering its diplomatic services to support a peaceful resolution.
“The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” the government said.