The Swiss government has frozen the bank accounts and assets of Venezuelan President Nicolas Maduro and those associated with him.

According to the international media outlet BBC, Switzerland has made this decision with immediate effect so that the money embezzled from Venezuela's public coffers cannot be hidden.

Switzerland, which has been imposing sanctions on Venezuela since 2018, has so far frozen the assets of 54 high-ranking officials and banned their travel.

The Swiss Federal Council issued a statement clarifying that the money will be returned to the public after the legal process and that this step was taken to prevent the transfer of suspicious assets out of the country. The government has also pledged that if future legal investigations confirm that the assets were illegally acquired, they will be returned for the benefit of the Venezuelan people.

The US had taken control of President Nicolás Maduro and his wife Cilia Flores from their residence in a surprise attack on Venezuela. According to US officials, this operation is the largest military intervention in South America since the Cold War.