The Swiss government announced today an immediate freeze on all assets belonging to Nicolas Maduro and individuals linked to him within Switzerland. These measures are effective immediately and will remain in place for four years, or until further notice. The decision did not specify the total value of the frozen assets.
This asset freeze follows President Maduro's arrest during a US raid in Caracas on 3/1. He was subsequently taken to New York to face drug trafficking charges. The Swiss government described the current situation as "unstable", emphasizing that the decision aims to "ensure that illegally acquired assets are not moved out of the country".
Bern clarified that this action is not politically motivated. Instead, Switzerland is acting because Maduro has effectively lost power, and there is a possibility that Venezuela may initiate legal proceedings to "reclaim the assets". The announcement also stressed that these specific freeze measures do not affect any members of the current Venezuelan government.
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Venezuelan President Nicolas Maduro speaks in Brasil in 5/2023. Photo: AFP |
The decision was issued under the Swiss Federal Act on the Freezing and Restitution of Illegally Acquired Assets by Foreign Politically Exposed Persons. This action complements existing sanctions against Venezuela, which have been in effect since 2018 and also include asset freezes. "The new freeze measures target individuals who have not previously been sanctioned in Switzerland", the announcement clarified.
Bern affirmed it is closely monitoring developments in Venezuela. It called for "de-escalation, restraint, and adherence to international law, including the prohibition on the use of force and the principle of territorial integrity". Switzerland has also repeatedly offered to provide "good offices" to all parties to seek a peaceful solution.
The Venezuelan government has not yet commented on Switzerland's decision. Maduro is scheduled to appear today before a federal court in New York, facing drug-related charges and several other offenses.
Thanh Tam (According to AFP)
