Switzerland to Repatriate $182 Million of Gulnara Karimova’s Assets to Uzbekistan
Uzbekistan and Switzerland Reach Agreement on Return of Confiscated Assets
In a recent development, Uzbekistan and Switzerland have reached an agreement regarding the return of confiscated assets belonging to Gulnara Karimova, the daughter of former President of Uzbekistan, Islam Karimov. The agreement, signed by the Minister of Justice of Uzbekistan, Akbar Toshkulov, and Switzerland’s Ambassador to Uzbekistan, Konstantin Obolensky, stipulates that Switzerland will return $182 million of assets.
The funds in question were confiscated in 2012 as part of a criminal case initiated by Switzerland’s Attorney General’s Office against Gulnara Karimova. The returned assets will be directed towards healthcare and education projects through the Uzbekistan Vision 2030 Multilateral Trust Fund, operating under the auspices of the UN.
Gulnara Karimova was sentenced to 13 years in prison in 2020 on charges of embezzlement and tax evasion. Switzerland had previously returned $131 million to Uzbekistan in the same year. It has been reported that the total value of Karimova’s assets in European countries is estimated to be nearly $1.4 billion.
This agreement marks a significant step towards addressing the repercussions of corruption and ensuring accountability for those involved in financial misconduct. The cooperation between Uzbekistan and Switzerland in returning these assets signals a commitment to upholding justice and transparency in financial matters.
