Switzerland orders asset freeze on ousted Venezuelan leader Maduro
The Swiss government has announced the immediate freezing of any assets held in Switzerland by deposed Venezuelan President Nicolás Maduro and individuals linked to him.
In a statement released on Monday, Swiss authorities said the decision followed Maduro’s seizure in Caracas during a surprise United States military operation and his subsequent transfer to New York to face narco-trafficking charges.
Describing the situation as “volatile,” the government said the measure was aimed at preventing any illicitly acquired funds from being moved out of Switzerland. “As a precautionary step, it has been decided to freeze any assets held in Switzerland by Mr Maduro and other persons associated with him,” the statement said.
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According to Bern, the asset freeze takes effect immediately and will remain in place for four years unless lifted earlier. Swiss officials added that if future legal proceedings determine the assets were obtained unlawfully, Switzerland would seek to ensure the funds ultimately benefit the Venezuelan people.
The government clarified that the move does not affect members of Venezuela’s current administration.
The decision was taken under Switzerland’s Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons. It also builds on sanctions against Venezuela that have been in force since 2018, including earlier asset freezes, with the latest measures targeting individuals not previously sanctioned in Switzerland.
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Bern said it is closely monitoring developments in Venezuela and urged de-escalation, restraint and adherence to international law, including respect for territorial integrity and the prohibition of the use of force. Switzerland also reiterated its readiness to act as a mediator, citing its repeated offers of “good offices” to help all parties reach a peaceful resolution.
Addressing the political circumstances surrounding Maduro’s removal from power, the Swiss government said the legality of his ouster was not a determining factor in the asset freeze. Instead, it stressed that the key issue was the fact that a change of power had occurred, raising the possibility that Venezuela may initiate future legal proceedings concerning allegedly illicit assets.
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