For weeks, the gold that Nicolás Maduro sent to Switzerland for years continues to be an important enigma. The Government of Switzerland announced on January 5 that it has frozen the assets of the Venezuelan president and other related people. Nevertheless, . The measure of the Swiss government does not affect other members of the current Venezuelan Government.
Although it is still too early to foresee the future of these assets, he has reported that, if it is proven that they were acquired illicitly, will be used in favor of the Venezuelan people. Likewise, he has clarified that the current measure does not affect the rest of the members who still make up the Government of Venezuela after the fall of Maduro.
Along with Maduro and his partner, there are 35 other people close to them, according to Swiss authorities. Among these would be Pedro Binaggia, “lawyer and wealth manager, close to Hugo Chávez [fallecido en marzo de 2013]”, as reported by the newspaper . Also, the former ministers Jorge Alberto Arreaza, Marleny Josefina Conteras, Haiman El Troudi, Rafael Ramírez or Alejandro Zerpa. In addition, Maduro’s three stepsons appear on the list: Walter Jacob, Yossel Daniel and Yoswal Alexander Gavidia Flores
Why is Switzerland freezing assets?
The Swiss authorities have explained that given the “volatile situation” in Venezuela, where “several scenarios are possible”, this precautionary measure has been chosen to prevent “illicitly acquired assets may be transferred outside of Switzerland”. In this way, they are supported by their own legislation. Specifically, in the Federal Law on the Freezing and Restitution of Illicit Assets Held by Politically Exposed Persons Abroad (the sign),
Furthermore, the Swiss government clarified that the measure is not based on the overthrow of Maduro and whether or not this maneuver occurred in violation of International Law. “The decisive factor,” he maintained, is that after his fall, he will initiate legal proceedings in the future “with respect to the illicitly acquired assets.”
“The freezing of assets serves to enable any future mutual legal assistance proceedings. If these reveal that the funds were acquired illicitly, “Switzerland will strive to use them for the benefit of the Venezuelan people.”explained the Swiss Federal Council.
Why did Maduro move gold to Switzerland?
As reported, a decade ago, Venezuela sent gold to Switzerland worth more than 5,000 million euros with the intention of melting it down and selling it on the international market. In this way, and by air, the Maduro Government sent 127 tons of the mineral between 2012 and 2016. In the latter, the transfer record was reached: 60 tons of gold.
These shipments were made discreet and secret. Despite the silence of the Venezuelan Government, and as stated, the shipments could be tracked through Swiss customs statistics. These authorities closely examine imports and exports.
Destiny is not a coincidence. Switzerland is the international gold hub and has been the world’s largest importer and exporter of gold. This was a key requirement for Caracas as it attempted to monetize bullion from its Central Bank’s gold reserves. Among them:
- Valcambi.
- Tycoon.
- Argor-Heraeus.
“An act of desperation”
As reported by the public television of the European country, the shipment of gold by Maduro was “an act of desperation” to avoid the bankruptcy of the State. When Venezuela, the country was already practically excluded from normal refinancing and was left without usable foreign currency.
As pointed out in the reports of the Center for Innovation in International Governance (CIGARETTES), consulted by the media, Caracas was suffering from a “significant financing gap” and “few assets or policy options to close it” at the time of the gold shipment.
After the collapse of the price of oil, The gross domestic product (GDP) plummeted by 80%. The country was only able to obtain new loans with guarantees, forcing the urgent transfer of gold abroad.
At that time, imports to Switzerland did not violate sanctions. Today, these transactions would be practically impossible since the Federal Council tightened the regulations and
