Swiss Authorities Freeze Assets Linked to Venezuela’s Maduro After US Capture

Switzerland became the first nation to freeze assets linked to Nicolás Maduro and his associates in the wake of the ouster.

A Swiss national flag flutters in a blue sky in Bourg-Saint-Pierre, western Switzerland on June 21, 2022. Fabrice Coffrini/AFP via Getty Images

Switzerland said on Jan. 5 that it has frozen all assets held in the country by deposed Venezuelan leader Nicolás Maduro and his associates.

After Maduro’s arrest in Caracas by U.S. forces and his subsequent transfer to the United States, Swiss authorities imposed a precautionary measure designed to prevent the removal of any illegally acquired assets from the country.

The order is effective immediately and valid for four years. It is unclear how much the assets are worth.

The Swiss government said Venezuela’s situation was volatile, with a range of possible developments in the coming weeks.

Bern added that it was closely following events, urging moderation and de-escalation, and standing ready to provide its good offices to advance a peaceful outcome.

“Switzerland calls for de-escalation, restraint, and compliance with international law, including the prohibition on the use of force and the principle of respect for territorial integrity,” the Swiss Federal Department of Foreign Affairs said in a statement on X.

The decision is based on the Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons.

It does not affect current members of the Venezuelan regime.

“Should future legal proceedings reveal that the funds were illicitly acquired, Switzerland will endeavour to ensure that they benefit the Venezuelan people,” Swiss authorities said.

This, officials say, is not an endorsement of the U.S. military operation but a recognition of the loss of power that now allows the country to pursue legal assistance proceedings to reclaim the frozen assets.

The asset freeze is in addition to sanctions imposed against Caracas since 2018 under the Embargo Act.

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In December, the U.S. Treasury Department sanctioned several family members and associates of the Maduro-Flores family.

As a result, all properties and assets belonging to the designated individuals that are in the United States or controlled by U.S. persons were frozen.

“Treasury sanctioned individuals who are propping up Nicolás Maduro’s rogue narco-state. We will not allow Venezuela to continue flooding our nation with deadly drugs,” Treasury Secretary Scott Bessent said in a statement.

“Maduro and his criminal accomplices threaten our hemisphere’s peace and stability. The Trump administration will continue targeting the networks that prop up his illegitimate dictatorship.”

Over the years, Washington has implemented broad sanctions on Venezuela’s central bank, the Maduro government’s access to U.S. financial markets, and state oil company PDVSA.

Others have also implemented asset freezes, sanctions, and embargoes on Venezuelan officials linked to the Maduro regime and other individuals, including the European Union, Canada, and Mexico.

Deposed Venezuelan leader Nicolás Maduro aboard the USS Iwo Jima, on Jan. 3, 2026. The White House

Switzerland has already imposed sanctions on Caracas, and it is so far the only nation to announce the freezing of assets after Maduro and his wife, Cilia Flores, were detained by the United States.

For years, Switzerland’s banking sector has been a key destination for political leaders and high-risk individuals to park their wealth.

It is an attractive location because of its strong banking foundation, immense wealth-management industry, and political stability.

Bern has also appeared in watchdog reports.

In 2022, for example, leaked client data from Credit Suisse spotlighted bank accounts connected to sanctioned individuals, corrupt officials, and clients engaged in illicit activities.

Swiss financial regulator FINMA launched an inquiry into the leak and compliance failures.