Switzerland has announced the freezing of 687 million Swiss francs, or more than 750 million euros, in assets linked to former Venezuelan President Nicolás Maduro and members of his inner circle. The Swiss Foreign Ministry confirmed this amount on Monday, the first time it has been disclosed since the asset freeze order came into effect on January 5.
The funds were reported by Swiss financial intermediaries to the Money Laundering Reporting Office. According to Swiss authorities, approximately two-thirds of this sum was already frozen as part of previous criminal proceedings. The recent order has allowed for the freezing of an additional 239 million francs.
A four-year preventative blockade
Bern clarifies that this is a preventative freeze intended to stop any capital flight and to facilitate potential mutual legal assistance with Venezuela. No member of the current government in Caracas is targeted by the measure, which notably concerns Nicolás Maduro's wife, Cilia Flores, as well as former political figures.
This decision comes amid heightened political tensions following the arrest of Nicolás Maduro by US authorities in early January. The Swiss order is valid for four years and can be extended up to a maximum of ten years.
