Switzerland has announced that it has frozen all assets connected to Venezuela’s President, Nicolás Maduro, and his close associates. The move is part of international efforts to put pressure on the Venezuelan government over political and economic concerns, especially related to democracy, human rights and governance.

Swiss authorities said the asset freeze applies to bank accounts, properties and other financial holdings linked directly or indirectly to Maduro and people believed to be working on his behalf. This means the affected individuals cannot access, transfer or benefit from any frozen funds within Switzerland’s financial system.

The decision follows similar actions taken by other Western countries and aligns with sanctions aimed at holding political leaders accountable. Switzerland said the step is meant to prevent misuse of funds and ensure that its banking system is not used to hide money connected to corruption or illegal activities.

Venezuela’s government has strongly criticised the action, describing it as unfair and politically motivated. However, Switzerland insists that the measures are lawful and based on international agreements, and it says the restrictions will remain until there is meaningful political and economic reform in Venezuela.