Updated sanctions report: Venezuela
The Federal Department of Economic Affairs, Education and Research
EAER has published an amendment to Annex 1 of the Ordinance of 28
March 2018 on measures against Venezuela (SR 946. 231. 178. 5).
On 3 February 2025, the Federal Department of Economic
Affairs, Education and Research EAER amended the list of persons,
companies and organisations sanctioned in this context. The EAER has
therefore adapted the SESAM (SECO Sanctions Management) sanctions
database, which is relevant for Switzerland, and published the
amendment on its website. The amendment will come into force on
February 5, 2025.
In accordance with the provisions of the
Ordinance, financial intermediaries are required to implement the
prohibitions, freeze the assets of the sanctioned persons and report
the affected business relationships to SECO. Reporting to SECO does
not release a financial intermediary from carrying out additional
investigations in accordance with Art. 6 AMLA in the event of
suspicions and, if it is unable to dispel them, from immediately
submitting a report to the Money Laundering Reporting Office in
accordance with Art. 9 AMLA.