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. 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.
On 3 January 2026, Venezuelan President Nicolás Maduro was arrested by US forces in Caracas and flown to the United States. The situation is volatile, and several scenarios are possible in the coming days and weeks. 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.
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 asset freeze comes into force today with immediate effect and will remain valid for four years until further notice.
