Venezuelan assets worth $880 million linked to Nicolás Maduro frozen
Switzerland has frozen Venezuelan assets worth 687 million Swiss francs, equivalent to approximately 880 million dollars, as reported by the Swiss Ministry of Foreign Affairs to AFP. This is the first time authorities have publicly communicated the total amount of funds blocked under this measure.
TL;DR
- Switzerland has frozen 687 million Swiss francs (approximately $880 million) in Venezuelan assets.
- This is the first public disclosure of the total blocked amount.
- The freeze, in effect since January 5, targets Nicolás Maduro, his wife Cilia Flores, associates, and former ministers.
- No current government members are included in the list.
- The measure aims to prevent capital flight and facilitate judicial cooperation between Venezuela and Switzerland.
- The freeze aligns with EU sanctions against Venezuelan officials since 2018.
- Financial intermediaries have reported the frozen assets to the Money Laundering Information Office.
- Approximately two-thirds of the total assets were already frozen under existing sanctions.
- About $309 million were frozen specifically under the January 5 regulation.
- The asset freeze allows for judicial assistance requests in criminal investigations.