The Swiss government has announced an immediate freeze on any assets held in Switzerland by Venezuela’s deposed president, Nicolas Maduro, and individuals associated with him, following his dramatic capture by United States forces and transfer to New York to face narcotrafficking charges.
In a statement issued on Monday, authorities in Bern said the decision was taken as a precautionary measure in response to what it described as a “volatile” situation in Venezuela after Maduro was seized in Caracas during a surprise US military operation.
Switzerland said the move was aimed at preventing the possible transfer of assets suspected to have been illicitly acquired.
“The Federal Council has decided, with immediate effect, to freeze any assets held in Switzerland by Mr Maduro and other persons associated with him,” the statement read.
According to the government, the asset freeze will remain in force for four years, unless lifted earlier, and is designed to ensure that any questionable funds remain secured while legal developments unfold.
Bern stressed that the measure does not apply to members of Venezuela’s current government, noting that it specifically targets Maduro and individuals linked to him who were not previously sanctioned under Swiss law.
The Swiss authorities added that, should future legal proceedings establish that the frozen funds were illegally obtained, Switzerland would seek to ensure that such assets are ultimately returned for the benefit of the Venezuelan people.
The decision was taken under Switzerland’s Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons.
Officials said the latest action is separate from, and in addition to, sanctions imposed on Venezuela since 2018, which already include certain asset freezes.
“The decisive factor is that a fall from power has occurred,” the Swiss government explained, adding that it is now plausible that Venezuela, as the country of origin, could initiate legal proceedings related to illicitly acquired assets in the future.
Bern noted that the circumstances surrounding Maduro’s removal from power whether lawful or otherwise under international law were not central to the decision.
While taking the financial measures, Switzerland also called for calm and restraint, urging all parties involved to respect international law, including the principles of territorial integrity and the prohibition of the use of force.
The government reiterated its longstanding offer to provide its “good offices” to help facilitate dialogue and a peaceful resolution to the crisis, saying it continues to monitor developments in Venezuela closely.
Maduro’s detention and transfer to the United States have sparked global reactions, with several countries reassessing diplomatic, legal and financial ties connected to his administration.
Switzerland’s swift move signals growing international efforts to isolate assets linked to former leaders facing serious criminal allegations.
