BERN — The Swiss Federal Council has announced a precautionary freeze on all assets held in Switzerland by deposed Venezuelan leader Nicolás Maduro and 37 associated individuals. The order, which took effect on January 5, 2026, aims to prevent the movement of potentially illicit funds following Maduro’s recent arrest by U.S. forces in Caracas.
Application of the FIAA Framework
The move was executed under the Federal Act on the Freezing and the Restitution of Illicit Assets (FIAA). This specific legal framework allows Switzerland to block the wealth of “foreign politically exposed persons” when a sudden change in power occurs. Unlike standard diplomatic sanctions, the FIAA focuses on ensuring that assets can be returned to the country of origin if future legal proceedings prove they were acquired through corruption or criminal mismanagement.
In an official statement, the Federal Council clarified that the Switzerland freezes Maduro assets order is a four-year precautionary measure. “The Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” the government noted.
Distinctions and Existing Sanctions
The new order does not affect current members of the Venezuelan government, focusing strictly on Maduro, his wife Cilia Flores, and their immediate circle. This action supplements the existing Swiss Federal Council Venezuela sanctions that have been in place since 2018 under the Embargo Act.
While the Swiss Foreign Ministry has not disclosed the exact value of the blocked funds, the country’s private banking sector has historically been under scrutiny for hosting high-risk political clients. The government emphasized that the legality of Maduro’s removal from power—categorized by some as part of Operation Absolute Resolve—does not dictate the asset freeze. Rather, the “volatile situation” and the potential for future legal assistance requests from Venezuela are the primary triggers.
Path to Restitution
If investigators determine that the funds were illicitly obtained, Switzerland has committed to ensuring the assets “benefit the Venezuelan people.” This process typically involves long-term judicial cooperation between Bern and the emerging authorities in Caracas.
The freeze is set to remain valid until at least 2030, unless the Swiss government chooses to extend it during the ongoing criminal investigations in the United States and Venezuela.
