Switzerland freezes assets linked to Venezuela's Maduro after US arrest

BERLIN, Jan 5 - Switzerland has frozen any assets held in the country by Venezuela's Nicolas Maduro and associates, the Federal Council said on Monday, following his arrest by U.S. forces in Caracas and transfer to the United States.

The measure, effective immediately and valid for four years, aims to prevent an outflow of potentially illicit assets and is in addition to existing sanctions imposed on Venezuela since 2018, the statement said.

The asset freeze does not affect members of the current Venezuelan government, and Switzerland said it will seek to return any funds found to be illicitly acquired to benefit the Venezuelan people.