Switzerland has expanded its sanctions list targeting associates of ousted Venezuelan leader Nicolás Maduro, adding six names whose assets in the country could face seizure. The government also removed two individuals from the previous list, bringing the total to 41 names.
The updated list includes Maduro, who was captured by US forces in January, alongside other people linked to his former administration. Switzerland’s latest changes also affect individuals connected to Venezuela’s political and business circles.
The asset freeze order will remain effective for four years. However, foreign governments seeking to recover funds held in Swiss banks must meet specific legal requirements.
Who Has Switzerland Added to the Venezuela Sanctions List?
The six newly listed individuals include businessman Alex Saab, who previously served as Venezuela’s industry minister, and his associate Alvaro Pulido Vargas. Both men were recently deported to the United States by acting President Delcy Rodriguez.
Their inclusion means their assets in Switzerland could face seizure under the updated sanctions framework. However, any action involving funds held in Swiss banks must follow the applicable legal procedures.
The Swiss government released the revised list late Friday, outlining the latest changes to its measures against individuals associated with Maduro.
Which Two Names Have Been Removed?
Switzerland has also removed two individuals from its previous sanctions schedule: Marleny Contreras and Jorge Arreaza.
Contreras is the wife of Venezuelan Interior Minister Diosdado Cabello. Arreaza is a lawmaker who heads a parliamentary commission overseeing efforts to advance an amnesty law.
That proposed legislation could lead to the release of all political prisoners in Venezuela. However, the removal of their names from Switzerland’s sanctions list does not, by itself, establish any broader change in the country’s political situation.
Following these changes, the updated Swiss list contains 41 names, including Maduro.
How Long Will the Swiss Asset Freeze Remain in Force?
Switzerland’s asset freeze order will remain effective for four years. The measure allows the country to restrict assets linked to individuals covered by the sanctions.
Nevertheless, foreign governments cannot automatically seize funds held in Swiss banks simply because someone appears on a sanctions list. They must submit an official request and provide evidence that legal proceedings have begun concerning the origin of the funds.
These requirements establish a legal process for pursuing assets suspected of being connected to unlawful activities. Consequently, requests from foreign authorities must satisfy the applicable conditions before further action can proceed.
What the Latest Changes Mean
The revised sanctions list reflects Switzerland’s continuing measures against individuals associated with Maduro’s former administration. By adding six names and removing two, the government has adjusted the list while retaining 41 individuals.
The four-year asset freeze order remains an important part of the measures. However, the recovery or seizure of funds held in Swiss banks depends on formal requests and evidence of relevant legal proceedings.
The latest update therefore changes the individuals covered by the list, while the existing legal requirements continue to govern foreign efforts to pursue assets in Switzerland.
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