Overview
- The Federal Council said the freeze takes effect immediately and will remain in force for four years unless changed.
- Authorities described the action as a precaution under the illicit assets law and said it supplements sanctions in place since 2018 under the Embargo Act.
- The order applies to Maduro and associates, targets individuals not previously sanctioned in Switzerland, and reportedly covers 37 people.
- Members of the current Venezuelan government are excluded, and any funds later proven illicit would be directed for the benefit of the Venezuelan people.
- Citing a volatile situation after the U.S. seized Maduro in Caracas, Switzerland urged restraint under international law and offered its good offices.