Switzerland to return $182 million of Gulnara Karimova's assets to Uzbekistan

Switzerland and Uzbekistan have signed an agreement on the return of $182 million belonging to Gulnara Karimova, the eldest daughter of former Uzbek President Islam Karimov. This was announced on February 6 by the Ministry of Justice of Uzbekistan in its Telegram channel.

The document was signed by Uzbek Justice Minister Akbar Toshkulov and Swiss Ambassador to the country Konstantin Obolensky. According to the official statement, these funds were illegally obtained by Uzbek citizens and confiscated by the Swiss Prosecutor General's Office back in 2012 as part of a criminal investigation against Karimova.

Where will the returned funds be sent?

The returned assets will be transferred to Uzbekistan through a Multilateral trust Fund Uzbekistan Vision 2030. It is expected that this money will be used to finance socially significant projects in the country aimed at developing infrastructure, education and healthcare.

Karimova's assets: The story continues

This is not the first time that Karimova's assets have been returned. In 2020, Switzerland has already transferred $131 million to Uzbekistan. At that time, the total amount of assets frozen by the Swiss prosecutor's office was estimated at 800 million Swiss francs (about 850 million euros at the exchange rate for February 2025).

According to the data Газета.uzthe total amount of assets associated with Karimova and the criminal group she leads outside of Uzbekistan reaches $1.4 billion. These funds are frozen in various jurisdictions and continue to be the subject of international legal proceedings.

The fate of Gulnara Karimova

Gulnara Karimova, formerly known as a businesswoman and diplomat, is currently serving a prison sentence in Uzbekistan. She was convicted of embezzlement and extortion of funds, embezzlement of public funds, and tax evasion.

The return of Karimova's assets is another step in Uzbekistan's anti-corruption policy aimed at restoring justice and returning illegally exported funds.