Switzerland names conditions for return of funds seized by Gulnara Karimova
According to the framework agreement signed by the two countries, assets worth about $ 131 million withdrawn from the Swiss accounts of the daughter of the first President Gulnara Karimova will be returned to Uzbekistan.
Switzerland has reached an agreement in principle with Uzbekistan on the conditions for the return of funds confiscated as part of the investigation of the criminal case against Gulnara Karimova, the Swiss government said in a statement.
According to the framework agreement signed by the two countries, assets worth about $ 131 million withdrawn from the Swiss accounts of the daughter of the first President Gulnara Karimova will be returned to Uzbekistan.
The agreement, which will be finalized soon before it becomes legally binding, sets out the basic principles of restitution. In particular, Uzbekistan will be required to ensure transparency and accountability in the process of returning money, use assets to "improve the living conditions of the people", invest in projects that support sustainable development, and establish a monitoring mechanism.
Assets worth over 650 million Swiss francs ($715 million) remain frozen as part of the ongoing criminal case against Gulnara Karimova. If these funds are returned, they will be subject to the same conditions of restitution.
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