Switzerland has ordered a precautionary freeze on any assets in the country linked to Venezuela’s Nicolás Maduro and individuals associated with him, acting days after the former president’s arrest by United States forces in Caracas and transfer to the US.

The measure takes effect immediately and is set to run for four years, the Federal Council said in a statement.

The Swiss Foreign Ministry told Reuters and SWI swissinfo.ch that 37 people are currently covered by the order, though it did not disclose the value of assets affected. Authorities said the step is designed to prevent a possible outflow of funds that may later be subject to legal claims. “The Federal Council wants to ensure that any illicitly acquired assets cannot be transferred out of Switzerland in the current situation,” the government said, citing the Federal Act on the Freezing and the Restitution of Illicit Assets Held by Foreign Politically Exposed Persons (FIAA).

Officials noted the freeze does not apply to members of Venezuela’s current government. The decision complements existing Swiss sanctions on Venezuela introduced in 2018 under the Embargo Act, which include asset freezes, but the new order targets individuals not previously sanctioned, according to the Federal Council’s announcement and coverage by Euronews.

Bern underscored that the move aims to facilitate potential future mutual legal assistance proceedings. If courts later determine funds were acquired illicitly, Switzerland will seek to channel them for the benefit of the Venezuelan people, the government said in its statement.

The arrest of Maduro on 3 January has heightened uncertainty around Venezuela’s political trajectory. Swiss authorities said they are closely watching developments and have urged restraint and respect for international law, including the prohibition on the use of force and the principle of territorial integrity, as reported by the Federal Council. Switzerland has also reiterated its offer of good offices to help parties find a peaceful resolution.

The government characterised the situation as volatile, with several possible outcomes in the weeks ahead, Reuters reported. In its statement, Bern framed the freeze as a preventive step tied to Maduro’s loss of power rather than an assessment of how that change occurred, and stressed that the decisive factors were the fall from power and the prospect of legal action concerning assets.

Elsewhere, China’s National Financial Regulatory Administration has asked major policy banks and commercial lenders to disclose their Venezuela-related lending and strengthen risk monitoring.

The request seeks to assess potential dangers to Chinese lenders following the US operation in Caracas. China’s foreign ministry called for the immediate release of Maduro, reflecting broader pushback from Venezuela’s allies. Analysts cited by Bloomberg said prolonged disruption to Venezuela’s governance or oil exports could complicate cash flow and restructuring talks for loans-for-oil arrangements.

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