GENEVA – The Swiss Federal Council announced on Monday an immediate freeze on all assets held in Switzerland by former Venezuelan President Nicolás Maduro and his close associates. The move follows the dramatic capture of Maduro by U.S. special forces in Caracas over the weekend.
The Swiss government stated that the decision, effective immediately, is a “precautionary measure” designed to prevent the flight of potentially illicit capital during the current political volatility in Venezuela.
Swift Action to Prevent Capital Flight
In an official statement released on January 5, 2026, the Federal Council clarified that the asset freeze is intended to safeguard funds that may have been acquired through corruption or illicit means.
“The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” the statement read. The government further noted that should future legal proceedings prove these funds were stolen from the state, Switzerland would “endeavour to ensure that they benefit the Venezuelan people.”
Key Details of the Sanctions:
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Duration: The freeze is set for an initial period of four years.
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Scope: Targets Nicolás Maduro, his wife Cilia Flores, and members of their “inner circle.”
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Exclusions: The measure does not currently affect members of the transitional Venezuelan government.
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Legal Basis: The action was taken under the Federal Act on the Freezing and Restitution of Illicit Assets held by Foreign Politically Exposed Persons (PEPs).
A Response to Global Developments
The Swiss move comes as Maduro arrived in New York on Monday to face federal charges, including narco-terrorism and drug trafficking. His capture on January 3, 2026, has sent shockwaves through international markets and diplomatic circles.
While Switzerland has maintained sanctions against Venezuela since 2018 under the Embargo Act, this new targeted freeze specifically addresses the sudden “fall from power” of the Maduro administration. Bern emphasized that the decision was made regardless of the legality of the U.S. military operation, focusing instead on the practical risk of asset outflows.
Diplomatic Stance and “Good Offices”
Despite the freeze, Switzerland remains committed to its traditional role as a neutral mediator. The Federal Council called for “de-escalation, restraint, and full compliance with international law” by all parties involved. Switzerland has once again offered its “good offices” to facilitate a peaceful resolution to the Venezuelan crisis.
As of Monday afternoon, Swiss authorities have not disclosed the exact value of the assets currently frozen, though the country has long been a destination for global wealth, making the move a significant blow to the financial reach of the former Venezuelan leadership.
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