Bern: The Swiss Federal Council has announced the freezing of assets connected to the captured Venezuelan President Nicolas Maduro following recent military actions by the United States. This decision comes as part of Switzerland's precautionary measures to ensure that illicitly acquired assets are not relocated from the country.
According to Anadolu Agency - English, the Federal Council emphasized that the asset freeze is governed by the Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons (FIAA). The council stated that this move is intended to prevent any such assets from being unlawfully transferred out of Switzerland. This measure applies to assets held by Mr. Maduro and other individuals associated with him.
The Swiss authorities clarified that the freeze does not impact current members of the Venezuelan government and is separate from the sanctions against Venezuela that have been enforced under the Embargo Act since 2018. The council highlighted that these new asset freezes under the FIAA target individuals not previously sanctioned in Switzerland.
The council elaborated that the primary criterion for enforcing the asset freeze is the occurrence of a fall from power in Venezuela. It noted that whether Maduro's fall from power was lawful or violated international law is not a decisive factor. The potential for future legal proceedings regarding illicitly acquired assets from Venezuela also influenced the decision.
The Swiss government expressed its intention to ensure that, should legal proceedings confirm the illicit acquisition of funds, these resources will ultimately benefit the Venezuelan populace. The asset freeze is effective immediately and will remain in place for four years unless further notice is given.
The development follows a statement from former US President Trump, who announced on Saturday that US military operations in Venezuela led to the capture of Maduro and his wife, Cilia Flores. The couple was transported to New York and is currently detained in Brooklyn, facing federal charges in the US related to drug trafficking and alleged ties to terrorist-designated gangs.
Maduro has refuted the charges, while officials from Caracas have demanded the release of the couple.