Switzerland freezes assets of Venezuela’s Maduro and his inner circle

 GENEVA:  Switzerland has frozen all assets belonging to Venezuelan President Nicolas Maduro and individuals from his close circle, the Swis...

 GENEVA:  Switzerland has frozen all assets belonging to Venezuelan President Nicolas Maduro and individuals from his close circle, the Swiss government said.

"The Federal Council decided to freeze any assets held in Switzerland by Nicolas Maduro and other persons associated with him with immediate effect," the statement reads.

The measure is said to ensure that "any illicitly acquired assets cannot be transferred out of Switzerland in the current situation." The Federal Council added that the asset freeze targets individuals who have not previously been sanctioned in Switzerland and will not affect members of the current Venezuelan government. "The asset freeze is in addition to the sanctions against Venezuela that have been in place since 2018 under the Embargo Act," the statement says.

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