Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • World
  • Mid-East
  • Europe
  • Americas
  • Asia Pacific
  • Africa
  • Syrian Crisis
  • Islamophobia

Switzerland agrees on terms for returning $131M seized from former Uzbek president's daughter

by Agencies

ISTANBUL Sep 11, 2020 - 6:22 pm GMT+3
A worker paints the facade of the Swiss National Bank's (SNB) building in Zurich, Switzerland, Sept. 9, 2020. (Reuters Photo)
A worker paints the facade of the Swiss National Bank's (SNB) building in Zurich, Switzerland, Sept. 9, 2020. (Reuters Photo)
by Agencies Sep 11, 2020 6:22 pm
RECOMMENDED
Russian Security Council Deputy Chairman and former President Dmitry Medvedev smiles during a meeting on the military-industrial complex at the Kremlin, in Moscow, Russia, Sept. 20, 2022. (Getty Images)

'All of Ukraine will burn' due to US supplies: Russia's Medvedev

Russian-invasion-of-Ukraine

Switzerland said Friday it has agreed in principle with Uzbekistan on terms under which money seized as part of a money-laundering investigation against the eldest daughter of former Uzbek President Islam Karimov will be returned to the central Asian nation.

The "framework agreement” signed by the two countries will see assets worth around $131 million, seized from Swiss accounts belonging to Gulnara Karimova in 2012, returned to Uzbekistan.

The deal, which still needs to be formalized before it is legally binding, will require Uzbekistan to use the assets "to improve the living conditions of the people of Uzbekistan,” invest the funds in sustainable projects and ensure transparent monitoring, the Swiss government said.

"The agreement sets out the principles and stages for the restitution," it said, emphasizing that any returned assets "shall be used for the benefit of the people of Uzbekistan."

A further 650 million Swiss francs ($715 million) seized from Karimova remains frozen as part of the ongoing criminal proceedings against her. Should those funds be released, they would be subject to the same conditions of restitution, the Swiss government said.

As "first daughter," Karimova was among the power elite in the former Soviet republic, serving in diplomatic posts, including in Geneva, and was tipped as a potential successor to Karimov. She organized a fashion week, had her own jewelry line and released pop singles in addition to running entertainment TV channels.

Several years before her father's death in 2016, however, she suddenly fell from favor and feuded publicly with her mother and sister before being placed under house arrest.

In 2017, Karimova was sentenced to 10 years in prison for fraud and extortion, which was later commuted to five years under house arrest. In March, she was handed a fresh prison sentence of more than 13 years backdated to 2015, which meant she could be behind bars until 2028.

Karimov was Uzbekistan's president from 1991 until his death in 2016.

RECOMMENDED
Russian Security Council Deputy Chairman and former President Dmitry Medvedev smiles during a meeting on the military-industrial complex at the Kremlin, in Moscow, Russia, Sept. 20, 2022. (Getty Images)

'All of Ukraine will burn' due to US supplies: Russia's Medvedev

Russian-invasion-of-Ukraine
  • shortlink copied
  • Last Update: Sep 11, 2020 7:28 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    switzerland uzbekistan gulnara karimova islam karimov funds
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    A Turkish Airlines aircraft is seen as a snow plow cleans runway at Istanbul Airport, Istanbul, Türkiye, Jan. 24, 2022. (DHA Photo)

    Over 200 flights cancelled in Istanbul due to expected snowstorm

    snowstorm
    A shepherd's dog scratches itself in a rural area, Istanbul, Türkiye, Feb. 5, 2023. (Shutterstock Photo)

    Existence of wolves close to Istanbul seen as great blessing

    wild-animals

    Erdoğan slams opposition for making 'already done' promises

    turkish-elections

    Death toll rises to 284 after magnitude 7.4 earthquake rocks southeastern Türkiye

    EARTHQUAKE
    Mount Vesuvius, Italy
    Top 10 most dangerous volcanoes in the world
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021