Uzbekistan to Receive $313 Million of Karimova's Assets
Uzbekistan and Switzerland have signed an agreement to return confiscated assets linked to Gulnara Karimova. The funds will be allocated to healthcare and education through a UN trust fund.
Agreement on Asset Recovery
Uzbekistan's Minister of Justice Akbar Tashkulov and Swiss Ambassador Konstantin Obolensky officially signed an agreement to transfer $182 million, which had been confiscated in 2012 as part of a criminal case against Gulnara Karimova. This amount adds to the previously returned $131 million, bringing the total to $313 million.
The agreement is part of a long-term process to recover illicitly obtained assets tied to corruption and financial crimes.
How the Funds Will Be Used
The confiscated funds will be channeled through the UN Multi-Partner Trust Fund "Uzbekistan Vision 2030." The funding will go towards social projects, including improvements in healthcare and modernization of educational infrastructure.
Previously, part of the recovered assets was allocated to programs aimed at reducing maternal and infant mortality, as well as environmental and water supply reforms.
Total Assets Linked to Karimova
Estimates suggest that assets linked to Gulnara Karimova amount to approximately $1.4 billion. These include frozen bank accounts in various countries, real estate in Europe and the UAE, and luxury items such as expensive cars and jewelry.
Uzbekistan continues efforts to recover the remaining assets, negotiating with authorities in countries such as France, the United Kingdom, and the United States.
The End of a Corruption Scandal
Gulnara Karimova, the daughter of Uzbekistan’s first president, was found guilty of financial fraud and corruption. In 2017, she was sentenced to prison, later receiving additional time for new charges.
The return of these assets is seen as a major step in Uzbekistan’s anti-corruption policy and symbolizes the country’s commitment to transparency and fair distribution of state resources.
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