Swiss Freeze $880 Million in Venezuelan Assets Following the Ousting of Nicolas Maduro

The Swiss Foreign Ministry confirmed to AFP on Monday that it has frozen over $880 million (687 million Swiss francs) in assets linked to former Venezuelan President Nicolas Maduro, his wife, and close associates. The move, which took effect on January 5, is described as a "preventative measure" to stop capital flight and enable legal cooperation between Switzerland and the new interim administration in Caracas.

This financial crackdown follows the dramatic January 3 raid by U.S. forces in Caracas, which led to Maduro’s arrest and extradition to New York on drug trafficking charges. While Maduro claims to be a "prisoner of war," the interim government led by Delcy Rodriguez has begun pivoting toward Washington-backed reforms, including opening the oil sector to private investment. The frozen Swiss assets add to sanctions in place since 2018, marking a total shift in Venezuela’s financial landscape.