Switzerland freezes all assets of former Venezuelan pres.

GENEVA, Jan 5 (KUNA) -- The Swiss government decided on Monday to freeze any assets held in Switzerland by Nicolas Maduro and other persons associated with him with immediate effect, noting that this aims to prevent an outflow of assets.
In a statement issued from Bern, the government said that the asset freeze does not affect members of the current Venezuelan government.
It added that the measure is a precautionary step to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation under the Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons (FIAA).
Switzerland also said it would ensure that these assets benefit the Venezuelan people should future legal proceedings reveal that the funds were obtained through illicit means.
"This asset freeze issued in accordance with the FIAA is in addition to the existing sanctions against Venezuela under the Embargo Act, which have been in force since 2018 and also include asset freezes.
The new asset freezes under the FIAA target individuals who have not previously been sanctioned in Switzerland, the statement said.
Switzerland explained that the reasons behind Maduro's fall from power do not play a decisive role in asset freezes under the FIAA, nor does the question of whether the fall from power occurred lawfully or in violation of international law.
It added that the decisive factor is that a fall from power has occurred and that it is now possible that the country of origin will initiate legal proceedings in the future with regard to illicitly acquired assets.
This decision comes days after US President Donald Trump announced that Maduro had been arrested in the capital Caracas by US forces and transferred to the United States a development described by Switzerland as "volatile." Switzerland reiterated its call for de-escalation restraint and compliance with international law, reaffirming its rejection of the use of force and the need to respect the territorial integrity of states. It also renewed its offer of good offices to all parties with the aim of reaching a peaceful solution to the crisis in Venezuela.
The asset freeze comes into force on Monday with immediate effect and will remain valid for four years until further notice. (end) imk.mt