Switzerland Freezes Maduro Assets for 4 Years

Switzerland has announced an immediate freeze on any assets held by ousted Venezuelan leader Nicolás Maduro and his close associates in Swiss banks, with the measure set to remain in force for four years.

In a statement issued on Monday, the Swiss government said the decision was taken as a precautionary step following Maduro’s arrest in a surprise United States military operation and his transfer to New York to face international charges linked to drug trafficking.

Bern described the situation in Venezuela as highly volatile and said the move was aimed at preventing any assets suspected of being illicitly acquired from being transferred out of Switzerland under the current circumstances.

The freeze applies to Maduro and individuals connected to him and will remain in place until further notice.

Swiss authorities stressed that the assets could ultimately be returned for the benefit of the Venezuelan people if legal proceedings determine that their origin was unlawful.

Notably, the government underlined that the reasons behind Maduro’s removal from power are not decisive in the application of the freeze, regardless of whether his fall occurred through legal means or in violation of international law.

According to the Swiss position, the key factor is that Maduro is no longer in power, which opens the legal path for Venezuela to claim the assets in the future under Switzerland’s federal law on the freezing and restitution of illicit assets held by politically exposed foreign persons.

Seeking to balance pressure on the former ruling elite with institutional stability, Switzerland clarified that the asset freeze does not apply to members of Venezuela’s current government. Officials said the measure builds on sanctions imposed on Venezuela since 2018 but targets individuals who had not previously been subject to Swiss restrictions.

Switzerland also urged all parties in Venezuela to de-escalate tensions, exercise restraint and comply with international law, including respect for territorial integrity and the prohibition of force.

Bern reiterated its readiness to offer mediation efforts to support a peaceful resolution, as developments continue to unfold alongside Maduro’s appearance before US courts and Washington’s declaration that it is leading the current transitional phase.