British News Agency

The government stated in a press release, "The Federal Council wants to ensure that assets acquired through illegal means cannot be transferred outside of Switzerland."

This is the first announcement of asset freezes since Maduro’s capture on Saturday, though Bern has not revealed whether such assets exist or their value.

Switzerland has applied sanctions against Venezuela since 2018, and the U.S., Canada, and the EU also imposed sanctions and an embargo on trade with Caracas in 2017.

The statement read, "Under the Federal Act on the Freezing and Return of Illegally Acquired Assets Held by Foreign Political Influence (FIAA), the Swiss government has decided to freeze all assets owned by Mr. Maduro and other associates in Switzerland as a precautionary measure."

On January 3, Maduro was arrested in Caracas by U.S. forces and taken to the U.S. on charges of collaborating with drug traffickers and criminal organizations in Venezuela and Colombia.

Switzerland has been repeatedly mentioned in major leaks and audit reports as its private banking sector, political stability, large wealth management sector, and historically strong banking and corporate privacy have made it a place where politically influential individuals and other high-risk clients store their wealth.