Switzerland freezes more than $880 million in Venezuelan assets
Declared Switzerland on Monday froze Venezuelan assets worth more than $880 million, in its first statement of numbers in this case.
On January 5, a decision to freeze the assets of the former Venezuelan president came into effect Nicolas Maduro, the decision included his wife and other members of his family, in addition to government ministers.
The Swiss Foreign Ministry, which did not provide details about the distribution of assets according to owners, explained that "To date, Swiss financial intermediaries have reported that 687 million Swiss francs have been frozen in accordance with this decision"
The Ministry described the asset freeze as a preventive measure.
It added "This measure aims to prevent any capital smuggling, and to enable mutual legal cooperation between Venezuela and Switzerland"
The Swiss Foreign Ministry indicated that the decision does not include any current members of the Venezuelan government.
Additional Sanction
The asset freeze is in addition to the sanctions imposed since 2018, when Switzerland joined the European Union in taking measures against Venezuelan officials.
About two-thirds of the total assets have been frozen under the existing sanctions, or approximately $309 million, under the January 5 regulation.
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