Uzbekistan Receives $95M from Gulnara Karimova Asset Recovery

The Uzbek government has received a $95 million tranche from assets previously confiscated in Switzerland as part of the case against Gulnara Karimova, the eldest daughter of former President Islam Karimov, Orda.kz reports, citing Daryo.uz.

Deputy Minister of Economy and Finance Otabek Fozilkarimov confirmed that this is the first portion of a $131 million payment. In total, $313 million is set to be returned to Uzbekistan from Swiss accounts.

The funds are being managed through the Uzbekistan Vision 2030 Multilateral Trust Fund, established under the oversight of the United Nations. The funds will be allocated to social initiatives, with $43.5 million dedicated to healthcare and an additional $43.5 million to education.

The money that Gulnara Karimova stole belongs to the Uzbek people,
said UN Representative in Uzbekistan Sabina Makhl. 

Swiss Ambassador Konstantin Obolensky added that the remaining $182 million will be transferred once a distribution strategy is finalized. The assets are currently held in Swiss government accounts and continue to accrue interest, which will also benefit the fund.

Karimova, who was convicted of multiple charges including extortion, tax evasion, and money laundering, was recently moved from prison to a penal colony after serving a third of her sentence. Both Swiss and UK authorities confiscated her assets during international investigations.

Original Author: Ruslan Loginov