A step has been taken in the return of embezzled funds linked to Gulnara Karimova, as $95mn of the confiscated assets from Switzerland have been returned to Uzbekistan, Daryo correspondent reported. The announcement was made by Otabek Fozilkarimov, Deputy Minister of Economy and Finance, at a press conference in Almalyk on April 24.
Fozilkarimov shared that a total of $131mn is set to be returned to Uzbekistan, with the first $87mn already received. These funds are being allocated to crucial sectors, with $43.5mn dedicated to both healthcare and education. The decision reflects the Uzbek government's commitment to channeling the funds back into public welfare, underscoring that the stolen money belongs to the people of Uzbekistan.
"The money that Gulnara Karimova stole belongs to the Uzbek people," emphasized Sabine Machl, UN Resident Coordinator in Uzbekistan. "Therefore, the confiscated funds are being directed primarily to healthcare and education."
In addition to the $131mn already returned, Swiss Ambassador Extraordinary and Plenipotentiary to Uzbekistan, Konstantin Obolensky, confirmed that a total of $313mn had been confiscated in Switzerland. This amount was said to be returned to Uzbekistan in two stages. The first stage involves the transfer of $131mn, with the second stage bringing in an additional $182mn.
Ambassador Obolensky outlined that the funds would be deposited into a "Trust Fund” under the auspices of the United Nations. This arrangement follows an agreement between the governments of Switzerland and Uzbekistan on the phased return of the assets, in accordance with the Restitution Agreement.
In the beginning of April, The Belgian government announced its intention to return $108mn to Uzbekistan, seized during an investigation into corruption and money laundering crimes. This decision follows a request from the Brussels prosecutor’s office, which had earlier confiscated a total of $200mn linked to illicit activities.
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