Reports revealed Venezuela's success in transferring large quantities of gold to Switzerland during the early years of President Nicolas Maduro's rule, valued at approximately 4.14 billion Swiss francs, equivalent to $5.20 billion.
According to Reuters, Venezuela exported about 113 tons of gold to Switzerland during the period extending between 2013 and 2016. The Swiss Broadcasting Corporation reported that the gold was owned by the Central Bank of Venezuela, at a time when the government resorted to selling its gold reserves in an attempt to support the deteriorating economy.
Venezuelan gold exports to Switzerland have halted since 2017, against the backdrop of European sanctions imposed on Caracas. In the same context, Switzerland announced the freezing of assets belonging to President Nicolas Maduro and about 36 of his associates, according to a statement issued by the Swiss Federal Council cited by Reuters.
The freezing decision entered into force immediately upon its issuance and will remain in effect for four years. It aims to prevent the smuggling or transfer of assets suspected of being illicit, and it is to be added to the sanctions package imposed on Venezuela since 2018. It is not yet clear whether these assets are directly linked to the gold that was transferred from the Venezuelan Central Bank.
Separately, US President Donald Trump announced on Saturday that the United States carried out strikes inside Venezuela, resulting in the arrest of President Nicolas Maduro and his wife.
Trump said, during a press conference held at the "Mar-a-Lago" resort in Florida: "We will run the country until the time comes to implement a safe, sound, and prudent transition process."
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