"As such Switzerland is aligning itself with the sanctions imposed by the EU as a result of human rights violations and the undermining of the rule of law and democratic institutions," the statement read.
The ban concerns "the supply, export and transit to Venezuela of arms and goods which can be used for internal repression," including software that can be used to intercept internet and phone communications.
Assets belonging to a number of Venezuelan individuals, companies and organizations have also been frozen, while seven Venezuelan ministers and high-ranking officials have been banned from entering the country.
