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Switzerland on Monday announced the immediate freezing of any Swiss-based assets linked to Venezuela's deposed dictator Nicolas Maduro, saying that if the assets are found to be of illicit origin, efforts will be made to ensure they benefit the Venezuelan population, the Swiss Federal Government said on Monday.
In a statement posted on X, the Swiss Federal Government said the move takes effect immediately and applies to all Swiss-based assets linked to Maduro. "Venezuela: With immediate effect, Switzerland is freezing any Swiss-based assets linked to Nicolas Maduro. If any assets turn out to be of illicit origin, Switzerland will do its best to ensure that these benefit the Venezuelan population," the Swiss government said in the post. https://x.com/SwissGov/status/2008141183252566198 According to an official press release from the Swiss government, on January 5, 2026 (local time), the Federal Council decided to freeze any assets held in Switzerland by Nicolas Maduro and other persons associated with him, with immediate effect. "In doing so, the Federal Council aims to prevent an outflow of assets. The asset freeze does not affect members of the current Venezuelan government. Should future legal proceedings reveal that the funds were illicitly acquired, Switzerland will endeavour to ensure that they benefit the Venezuelan people. The asset freeze is in addition to the sanctions against Venezuela that have been in place since 2018 under the Embargo Act," the release said. Venezuelan President Nicolas Maduro was arrested by US forces in Caracas and flown to the United States. As per the release, on January 3, 2026, "the situation is volatile, and several scenarios are possible in the coming days and weeks." The release stated that Switzerland is closely monitoring the situation in Venezuela. It has called for de-escalation, restraint and compliance with international law, including the prohibition of the use of force and the principle of respect for territorial integrity. Switzerland has also repeatedly offered its good offices to all sides in order to find a peaceful solution to the situation. "The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation. Under the Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons (FIAA), 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 asset freeze does not affect any members of the current Venezuelan government," the release added. According to a release, this asset freeze issued in accordance with the FIAA is in addition to the existing sanctions against Venezuela under the Embargo Act, which have been in force since 2018 and also include asset freezes. The new asset freezes under the FIAA target individuals who have not previously been sanctioned in Switzerland. The reasons behind Mr Maduro's fall from power do not play a decisive role in asset freezes under the FIAA. Nor does the question of whether the fall from power occurred lawfully or in violation of international law. The decisive factor is that a fall from power has occurred and that it is now possible that the country of origin will initiate legal proceedings in the future with regard to illicitly acquired assets. "The asset freeze serves to enable any future mutual legal assistance proceedings. Should these reveal that the funds were illicitly acquired, Switzerland will endeavour to use them for the benefit of the Venezuelan people," the release said. As per the release, the asset freeze comes into force today with immediate effect and will remain valid for four years until further notice. (ANI)
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