Switzerland Freezes All Assets Linked to Arrested Venezuelan President Nicolás Maduro

The Swiss government on Monday announced the immediate freezing of all assets held in Switzerland by deposed Venezuelan president Nicolás Maduro and individuals associated with him, citing concerns over the potential transfer of illicitly acquired funds.

In a statement, authorities in Bern said the decision followed Maduro’s arrest in Caracas during a surprise United States military operation, after which he was taken to New York to face narcotrafficking charges.

Describing the situation in Venezuela as “volatile,” the Swiss government said the measure was necessary to prevent any assets suspected to have been unlawfully obtained from being moved out of the country amid the unfolding political crisis.

“It has therefore decided, as a precautionary measure, to freeze any assets held in Switzerland by Mr Maduro and other persons associated with him,” the statement said, adding that the order takes effect immediately.

The asset freeze will remain in place for four years unless lifted earlier, Swiss authorities said. They noted that if future legal proceedings determine the funds were illegally acquired, efforts would be made to ensure the assets ultimately benefit the Venezuelan people.

Swiss officials stressed that the freeze does not apply to members of Venezuela’s current government, clarifying that the measure is targeted specifically at Maduro and individuals linked to him.

The action was taken under Switzerland’s Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons and supplements existing sanctions imposed on Venezuela since 2018.

According to the government, the latest move targets individuals who had not previously been sanctioned in Switzerland, expanding the scope of earlier financial restrictions.

Bern said it is closely monitoring developments in Venezuela and called for de-escalation, restraint, and respect for international law, reiterating Switzerland’s offer to provide diplomatic “good offices” to help facilitate a peaceful resolution to the crisis.