Belgium to return part of seized Karimova-linked assets to Uzbekistan
Uzbekistan will receive $108 million from confiscated foreign assets as part of an international investigation.
Belgian authorities have decided to return part of the confiscated assets related to the case of Gulnara Karimova, the eldest daughter of Uzbekistan’s first president. The Brussels chief prosecutor requested the Central Office for Seizure and Confiscation to transfer $108 million from Belgium’s state treasury to Uzbekistan.
Although official documents do not name individuals, sources confirm the case concerns Karimova, who has been accused of corruption, money laundering, and illegally profiting from foreign telecommunications companies in exchange for access to the Uzbek market.
The Belgian investigation was launched at Uzbekistan’s request under the UN Convention against Corruption. According to Uzbekistan’s Ministry of Justice, the initial estimated sum was $240 million, with about $200 million eventually frozen during the probe.
A court ruled to divide the confiscated assets and accrued interest between the two countries. Under the ruling, Uzbekistan will receive $108 million. The transfer will be processed through the Uzbekistan Vision 2030 international trust fund, established in 2022 to ensure transparent repatriation of seized assets.
The Belgian restitution complements previous agreements with other nations. Notably, Uzbekistan and Switzerland signed a deal to return $182 million confiscated in the same case. Negotiations are ongoing with the U.S. regarding the return of another $60 million linked to Karimova.
The investigation into Gulnara Karimova began in 2012, covering large-scale bribery schemes. She allegedly received payments from major telecom companies including TeliaSonera, Vimpelcom, Alfa Telecom, and MTS, which were subsequently laundered through offshore structures abroad.
Observers note that Belgium’s move coincides with growing EU–Uzbekistan relations. Amid the “EU–Central Asia” summit in Samarkand and the opening of the European Investment Bank’s office in Tashkent, Brussels’ action may be part of a broader EU strategy to strengthen political and economic ties with regional republics.
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