Bern, January 5, 2026 – The Swiss Federal Council announced on Monday that it has imposed an immediate precautionary freeze on any assets held in Switzerland by former Venezuelan President Nicolás Maduro and individuals associated with him. The decision, invoking the Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons (FIAA), aims to prevent the potential transfer of illicitly acquired funds amid the volatile situation in Venezuela following Maduro's capture by US forces.
In an official statement, the Federal Council emphasized: "The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation." It clarified that the measure targets Maduro and his close associates as foreign politically exposed persons but explicitly does not affect members of the current Venezuelan government. This new freeze supplements existing Swiss sanctions against Venezuela, in place since 2018 under the Embargo Act, which already include asset freezes for certain individuals.
The council stressed that the legality of Maduro's removal from power is irrelevant to the decision. "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 statement read. The key factor is the change in leadership, which opens the possibility for Venezuela to pursue future legal proceedings against alleged illicit assets. If such proceedings prove the funds were unlawfully obtained, Switzerland pledged to work toward restituting them for the benefit of the Venezuelan people.
The freeze took effect immediately on January 5 and is set to remain in place for four years, subject to review. Swiss authorities have not disclosed whether any specific assets linked to Maduro exist in the country or their potential value, maintaining the precautionary nature of the action.
This move comes in the wake of a dramatic US military operation, codenamed "Operation Absolute Resolve," executed on January 3. US special forces, supported by airstrikes disabling Venezuelan air defenses, raided Maduro's compound in Caracas, capturing him and his wife, Cilia Flores. The couple was swiftly transported to the United States, arriving in New York late on January 3 or early January 4. Maduro is currently detained at the Metropolitan Detention Center in Brooklyn, facing long-standing federal charges including narco-terrorism conspiracy, cocaine importation, and related offenses stemming from a 2020 indictment.
US President Donald Trump hailed the operation as a success, stating that the US would temporarily "run" Venezuela to stabilize it and rebuild its oil infrastructure with American companies. Trump has been explicit about economic motives, emphasizing access to Venezuela's vast oil reserves—the world's largest proven deposits. The operation involved over 150 aircraft and resulted in reported casualties, including dozens of Venezuelan military personnel and civilians, though exact figures remain disputed.
Interim Venezuelan leadership under Vice President Delcy Rodríguez has condemned the action as a violation of sovereignty and demanded the couple's release. Protests have erupted in Caracas, while Venezuelan diaspora communities in the US celebrated the development.
Switzerland, known for its neutral stance and robust financial regulations, is closely monitoring the evolving crisis. The Federal Council reiterated calls for de-escalation, restraint, and adherence to international law, including prohibitions on the use of force and respect for territorial integrity. Bern has offered its "good offices" for peaceful resolution.
The FIAA, enacted in 2016, empowers Switzerland to preemptively freeze assets of deposed foreign leaders to facilitate potential restitution claims. It has been applied in past cases involving ousted rulers from Tunisia, Egypt, and Ukraine. This marks the first such application in the context of the Venezuelan crisis escalation.
Global reactions to the US intervention and Maduro's detention remain divided. Allies like some Latin American opposition figures and certain Western governments have welcomed the removal of what they term an authoritarian regime, while nations including China, Russia, Cuba, Brazil, Mexico, and Colombia have condemned it as unlawful aggression. The UN Security Council convened an emergency session, with debates highlighting fractures in international norms.
Oil markets reacted with initial surges amid fears of supply disruptions, though analysts predict challenges in rapidly reviving Venezuela's neglected petroleum sector. The case underscores ongoing tensions over resource control, sovereignty, and the enforcement of international indictments through military means.
Maduro, who has led Venezuela since 2013 amid economic collapse, hyperinflation, and mass emigration, denies all charges, portraying them as politically motivated. His arraignment in Manhattan federal court is scheduled for early this week, where he is expected to plead not guilty.
Switzerland's action reinforces its reputation as a guardian against illicit finance, balancing neutrality with commitments to anti-corruption and asset recovery.
