Switzerland imposes 4-year asset freeze linked to Maduro, associates following Venezuelan leader's capture

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Switzerland announced Monday that it has frozen assets held in the country tied to Venezuelan President Nicolás Maduro and his associates following the U.S. capture of the leader in Caracas. 

"On 5 January 2026, the Federal Council decided to freeze any assets held in Switzerland by Nicolás Maduro and other persons associated with him with immediate effect," the Swiss Federal Department of Foreign Affairs (FDFA) said. 

The decision, which will remain in effect for four years, aims to prevent the transfer of assets amid concerns that the funds were acquired illegally through a regime long accused of widespread corruption, according to the agency. The freeze does not apply to members of the current government and the order will affect 37 people, the FDFA told Fox News Digital.

The agency said the frozen assets will be reported to the Money Laundering Reporting Office, after which Swiss authorities may be able to determine the total amount involved.

Should future legal proceedings "reveal that the funds were illicitly acquired, Switzerland will endeavour to use them for the benefit of the Venezuelan people," the FDFA said.

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Venezuela's President Nicolás Maduro gives a state of the nation address at the National Assembly, in Caracas, Venezuela, on Jan. 12, 2023. (Leonardo Fernandez Viloria/Reuters)

The council added that the asset freeze builds on existing sanctions against Venezuela, first imposed in 2018 under the Embargo Act, which includes restrictions on economic resources, travel, and specific goods. 

The new measure, enacted under the Foreign Illicit Assets Act (FIAA), now targets prominent individuals who were not covered in previous Swiss sanctions and are perceived as supporting the Venezuelan regime.

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Switzerland's national flag is seen in the background. (Arnd Wiegmann)

According to the FDFA, the decision was not made based on Maduro’s capture nor the legitimacy of his removal but amid concerns that his home country or others could launch legal action later to recover the potentially illegally acquired assets. 

Freezing the assets now acts as a "precautionary measure" meant to preserve them for potential future proceedings, according to the Swiss authorities. 

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"The reasons behind Mr Maduro's fall from power do not play a decisive role in asset freezes under the FIAA," the Federal Council said in a statement. 

"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."

Residents are seen rallying in Caracas, Venezuela, on Feb. 22, 2011. The Swiss government said it may return assets linked to Nicolás Maduro to benefit the Venezuelan people if the funds are later found to have been acquired illegally. 

Authorities added that the government is monitoring the situation closely and is calling for the peaceful de-escalation of the "volatile" situation.

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"The situation is volatile, and several scenarios are possible in the coming days and weeks," the FDFA said. "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."