Switzerland freezes Maduro’s assets and uncovers a multi-billion dollar gold shipment during his early years

Customs data showed that Venezuela transported gold worth approximately 14.4 billion Swiss francs ($5.20 billion) to Switzerland during the first years of the leadership of ousted President Nicolas Maduro.

Data seen by Reuters indicated that the South American country sent 113 tons of the precious metal to Switzerland from 2013, when Maduro took power, to 2016.

The Swiss Broadcasting Corporation said that the gold was sourced from the Central Bank of Venezuela, at a time when the government was selling gold to support its economy.

Customs data showed that Venezuela has not exported gold to Switzerland since 2017, when EU sanctions were imposed, until 2025.

Maduro was arrested by US special forces during an attack on Caracas on January 3, and is facing charges in a New York court, including drug trafficking and drug-related terrorism.

Yesterday, Monday, Switzerland ordered the freezing of assets owned by Maduro and 36 of his partners in the country, but it did not provide any information about the potential value of these assets or the source of these funds.

It is not yet clear whether there is any connection between these assets and the gold transferred from the central bank.