Jan. 6 (UPI) — Switzerland has frozen any assets in the country owned by U.S.-detained Venezuelan President Nicolas Maduro and others associated with him to ensure that if they were stolen from the Venezuelan people, they can be rightly returned.
The asset freeze went immediately into effect when it was announced on Monday, but does not impact members of the current Venezuelan government, Switzerland’s Federal Council said in a statement.
The freeze is to prevent funds from leaving the country. In the case that future legal proceedings show that the assets were illicitly acquired, Switzerland said it will “endeavor to ensure that they benefit the Venezuelan people.”
“The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” it said. “It has therefore decided, as a precautionary measure, to freeze any assets held in Switzerland by Mr. Maduro and others associated with him.”
Maduro and his wife, Cilia Flores, were captured by the U.S. military in an early Saturday operation that involved air and ground assets in Caracas. Dozens of people were killed. There were no U.S. military casualties.
The authoritarian Venezuelan president has been indicted in the United States on narcotrafficking and other related drug charges. The operation has raised domestic and international legal questions over Maduro’s detention and has drawn condemnation, including from U.S. allies.
On Monday, Maduro and his wife pleaded not guilty to the charges, and Vice President Delcy Rodriguez was sworn in as the country’s new president.
Switzerland called for de-escalation, restraint and compliance with international law following the United States’ Saturday military operation and said it was “closely monitoring” the situation.
The new asset freeze is in addition to sanctions imposed against Venezuela under Switzerland’s Embargo Act in 2018. The new measure targets the assets of 37 individuals who were not previously blacklisted by sanctions, according to an ordinance on the action. Maduro’s wife and other relatives were named.
Switzerland said neither the reason for Maduro’s ousting nor whether it was legal plays a role in its decision to apply the asset freeze.
“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,” the Federal Council said.
The freeze will remain in place for four years.