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Uzbek Banker Olimov Abducted in Paris, Freed After Ransom Payment

A high-profile Uzbek banker was abducted in central Paris last month and later released after a ransom was paid, Le Monde has reported. Kakhramonjon Olimov, 48, the sole shareholder of Anorbank, was kidnapped in the city’s 8th arrondissement on June 23 and held for nearly two days. French prosecutors have since opened an investigation, and one suspect has been charged with “organized kidnapping.” The case, described by Le Monde as “straight out of a spy novel,” has drawn international attention due to its dramatic nature and the stature of the victim. Olimov, a frequent visitor to France, had traveled to Paris on a business trip scheduled for late June. His agenda included meetings with French partners, including executives from energy giant EDF. He is reportedly involved in a gas power plant project in Surkhandarya, southern Uzbekistan, through a Dutch-registered company. According to Le Monde, Olimov and his assistant arrived in Paris from Tashkent via Istanbul on June 21. That evening, while at the hotel bar, he was approached by an unknown woman who introduced herself as Anastasia, claiming to work at a beauty salon in Turkey. Speaking in both Russian and English, she aroused suspicion due to her opulent appearance, including a white Louis Vuitton jacket and a Tiffany bracelet, which did not align with her purported background. Two days later, Olimov was kidnapped. He was transported to the basement of a villa near Nice, where he was physically assaulted, threatened, and reportedly subjected to a mock execution. He was later brought to Hôtel-Dieu hospital in Paris on June 25. Medical staff documented multiple traumas and injuries. According to reports, Olimov also exhibited severe psychological trauma, including insomnia and “hypervigilance.” “It wasn’t pleasant for him, but at least it’s over,” his personal assistant told Le Monde. Olimov is now recovering. Anorbank, which Olimov fully owns, manages more than $1 billion in assets and ranks among Uzbekistan’s top ten financial institutions, based on the bank’s own reporting. The motives behind the kidnapping remain unclear. Authorities have not disclosed the ransom amount or further details about the abductors. The case continues to raise alarms in both financial and diplomatic circles, particularly regarding the security of high net worth individuals abroad. French prosecutors are continuing their investigation. So far, only one individual has been formally charged.

Environment Investments Suez International France hazardous waste Vision International Investment Company Saudi Arabia Environmental Initiative

Uzbekistan Signs $78 Million Deal with Saudi and French Firms to Manage Hazardous Waste

Uzbekistan has signed a landmark $78 million agreement with Saudi Arabia’s Vision International Investment Company (VIIC) and France’s Suez International to improve hazardous industrial waste management and bolster environmental protection. The Ministry of Ecology announced the signing earlier this month. The agreement was formalized by Deputy Minister of Ecology Jusipbek Kazbekov, VIIC Director of Development Kapil Lalwani, and Paul Bourdillon, Regional Director for Europe and Central Asia at Suez. The project will be implemented in three phases. A Three-Phase Strategy The first phase will involve the construction of new waste stabilization facilities, landfills, and transfer stations to safely store and process hazardous industrial waste. The second phase will focus on developing engineering designs and piloting technologies to produce Refuse-Derived Fuel (RDF), a method that converts waste into usable energy. This phase will also test incineration and thermal treatment systems. In the third and final phase, the project will establish a full-scale RDF and waste-to-energy facility. Suez International, with over 160 years of experience, is a global leader in water and waste management, offering innovative solutions across Europe, Asia, the Americas, Africa, and the Middle East. Saudi-based VIIC, founded in 2002, manages nearly $96 billion in assets and is active in energy, infrastructure, and public-private partnership projects. The Ministry of Ecology views the agreement as a significant advancement for Uzbekistan’s environmental policy, aiming to reduce industrial pollution and support sustainable development. Broader Environmental Initiatives Uzbekistan’s Ministry of Ecology is also collaborating with the Food and Agriculture Organization of the United Nations (FAO) and the European Union to manage hazardous agricultural chemicals. A joint project launched in Tashkent last year aims to reduce pesticide use and improve waste handling in agriculture. Minister of Ecology Aziz Abdukhakimov emphasized the importance of these initiatives for public health and environmental safety. He also highlighted the need to update the national registry of contaminated areas, particularly former agricultural airfields, many of which have not been surveyed since the 1990s.

China South Korea France opinion Nuclear power Rosatom NPP International Diplomacy

Kazakhstan’s Nuclear Diplomacy – With China Set to Build Second, Who Will Construct Third Nuclear Power Plant?

Kazakhstan’s famed hospitality, long enshrined in its national proverbs, has also become a guiding principle in its foreign policy. One recent example is the Kazakh government’s diplomatic maneuvering in the selection of partners for its nuclear power program. Leader of the Race Initially, Kazakhstan planned to build a single nuclear power plant by 2035 to address potential electricity shortages. However, following the October 6, 2024, referendum, where 71.12% of voters approved a plant in the Almaty Region, President Kassym-Jomart Tokayev instructed the government to explore the construction of at least two additional facilities. This directive, as it turns out, was both timely and strategic. In March 2025, the newly formed Atomic Energy Agency, reporting directly to the president, was tasked with overseeing the selection of international consortium leaders. On June 14, the agency announced that Russia’s state-owned Rosatom would lead the consortium to build Kazakhstan’s first nuclear power plant. Rosatom CEO Alexey Likhachev welcomed the decision, stating that the VVER-1200 Generation 3+ reactors, already operating in Russia and Belarus and selected by partners in Hungary, Egypt, Turkey, Bangladesh, and China, would be used. These reactors, he emphasized, meet international safety standards and integrate both active and passive safety systems. Tricks Up Their Sleeves Behind the scenes, the selection process revealed a quiet tug-of-war between Chinese and Russian interests. Ultimately, Rosatom prevailed, thanks, in part, to two strategic moves. First, Rosatom’s supporters enlisted Assystem, an ostensibly independent nuclear engineering consultancy, to assist Kazakhstan Atomic Power Plants LLP in the evaluation process. The firm’s analysis favored Rosatom. Second, to pre-empt concerns about Western sanctions, the Kazakh authorities emphasized that Kazakhstan would be the sole owner and operator of the facility. Atomic Energy Agency head Almasadam Satkaliev stated that Kazakhstan would control the entire production cycle from uranium mining to fuel processing and plant maintenance, thereby limiting direct Russian involvement post-construction. This arrangement may allow the creation of a Kazakh legal entity immune to Western sanctions, as it would be wholly state-owned. Whether this could offer Rosatom a loophole for acquiring restricted components remains an open question but one that few may press given the global interest in nuclear safety. Another Contender Emerges Just hours after Rosatom’s contract was announced, Satkaliev made a second, equally strategic statement: China National Nuclear Corporation (CNNC) would lead the construction of Kazakhstan’s second nuclear power plant. Satkaliev cited CNNC’s “strongest proposals” and revealed plans for a broader agreement on nuclear cooperation with China. “Objectively, few countries can master the entire nuclear cycle. China is one of them,” Satkaliev noted. Back in February, prior to the agency’s creation, Kazakhstan’s Ministry of Energy, then also led by Satkaliev, had identified Kurchatov and Aktau as potential sites for future nuclear facilities. Kurchatov lies near the former Semipalatinsk nuclear test site, while Aktau once hosted the Soviet-era BN-350 fast neutron reactor. The timing of Satkaliev’s announcement is no coincidence. Chinese President Xi Jinping is scheduled to visit Kazakhstan on June 16 for the second China-Central Asia Summit. For a nation that...

Italy France Guests International Diplomacy Astana International Forum

Astana Gathers the World: Forum Elevates Kazakhstan’s Diplomatic Stature

The Astana International Forum 2025 (AIF2025), themed “Connecting Minds, Shaping the Future,” will take place in Kazakhstan’s capital on May 29-30. World leaders, business executives, investors, and experts will convene to address pressing global challenges and explore avenues for mutually beneficial agreements. Who is Expected in Astana? The AIF2025 aims to serve as a platform for open dialogue and to attract foreign capital. Participants will also seek to forge strategic partnerships and promote economic development initiatives. Approximately 600 international guests are expected, including prominent political figures, heads of international organizations, business leaders, investors, and members of the academic community. Confirmed attendees include Paul Kagame, President of Rwanda; Edi Rama, Prime Minister of Albania; Andrej Plenković, Prime Minister of Croatia, Gordana Siljanovska Davkova, President of the Republic of North Macedonia; and Sheikh Mohammed bin Abdulrahman Al Thani, Prime Minister and Minister of Foreign Affairs of Qatar. Ban Ki-moon, former UN Secretary-General and Chair of the Global Green Growth Institute and the Boao Forum for Asia, will also participate. Other distinguished guests include Alain Berset, Secretary General of the Council of Europe; Qu Dongyu, Director-General of the UN Food and Agriculture Organization (FAO); Amy Pope, Director General of the International Organization for Migration (IOM); Mathias Cormann, Secretary General of the OECD; and Daren Tang, Director General of the World Intellectual Property Organization. Also expected are Antonella Bassani, World Bank Vice President for Europe and Central Asia; Haoliang Xu, UNDP Deputy Secretary-General and Deputy Administrator; Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB); Jürgen Rigterink, First Vice President of the EBRD; Kubanychbek Omuraliev, Secretary General of the Organization of Turkic States; and Sebastian Kurz, former Federal Chancellor of Austria. This year, the forum will focus on three global themes: politics and international security, energy and climate change, and economics and finance. According to the Kazakh government, AIF2025 takes place amid intensifying global competition for investment and showcases Kazakhstan’s openness to international collaboration. The country continues to solidify its global presence through comprehensive reforms, legal modernization, and a strengthened investment climate. On May 28, two bilateral business forums, Kazakhstan-France and Kazakhstan-Italy will precede the main event. Italian Prime Minister Giorgia Meloni will also attend a Central Asia-Italy summit. As previously reported by The Times of Central Asia, in recent years Italy has emerged as one of the European countries most keen to maintain close relations with the countries of Central Asia. President Kassym-Jomart Tokayev is scheduled to open the forum. Global Anticipation Builds In the run-up to the event, several participants have already shared their expectations, with Maha Al-Kuwari, General Manager of the Doha Forum, saying that it was a privilege to be involved. “Together with the Qatar Development Fund, the Doha Forum will host a session focused on innovative approaches to enhancing global sustainability. Given geopolitical fragmentation, post-pandemic recovery, and disrupted supply chains, this discussion is vital, especially for developing and least developed countries,” she stated. The session will highlight new investment models and successful partnership frameworks spanning from Astana to Doha. Interviews...

NPP Nuclear Energy France Uzbekistan

French Companies Eye Role in Uzbekistan’s Nuclear Energy Plants

Uzbekistan is exploring collaboration with French firms in the construction of a small-capacity nuclear power plant (SCNPP) in the Jizzakh region, according to Azim Akhmadkhodjaev, Director of Uzbekistan’s Atomic Energy Agency, in an interview with Le Figaro. Akhmadkhodjaev noted that France could offer some of the most effective solutions and support for the project. Ongoing discussions involve several French companies: Assystem for technical support, Bureau Veritas for specialist training, and Framatome for technical management of the facility. Uzbekistan’s Minister of Energy, Jurabek Mirzamakhmudov, emphasized that French companies view Uzbekistan not only as an investment opportunity but also as a technological partner. Talks have centered on training local personnel to meet the technical demands of the nuclear sector. Joanna Golas, president of the France-Uzbekistan Economic Chamber, underscored the importance of preparing skilled technical specialists for the project. Uzbekistan is also advancing its renewable energy agenda, aiming to raise the share of renewables in its energy mix from 16% to 54% by 2030. Cooperation with French companies could bolster the country's efforts to build a more sustainable and diversified energy system. Previously, Uzbekistan signed a protocol with Russia, appointing Rosatom as the main contractor for the SCNPP project in Jizzakh. The agreement includes the construction of six reactors with a combined capacity of 330 MW. A successful partnership with French firms would bring additional technological expertise to the table and complement the existing plan.

Uzbekistan France Bilateral Cooperation Foreign Affairs

Uzbekistan and France Sign €6.5 Billion Partnership Agreements

Uzbekistan’s President Shavkat Mirziyoyev arrived in Paris on March 12 for a state visit at the invitation of French President Emmanuel Macron. The visit focused on strengthening political, economic, and cultural ties between the two countries. Expanding Cooperation with UNESCO As part of his visit, President Mirziyoyev met with Audrey Azoulay, Director-General of UNESCO, to discuss Uzbekistan’s growing collaboration with the organization. The talks also covered preparations for the 43rd UNESCO General Conference, set to take place in Samarkand this autumn, the first time the event will be held outside UNESCO’s Paris headquarters in 40 years. Uzbekistan has been actively engaged with UNESCO on various cultural and educational projects. The country has joined the International Center for the Preservation and Restoration of Cultural Heritage, and Bukhara has been added to the Network of Creative Cities. Several Uzbek traditions and artifacts, such as sericulture, pottery, and the archives of the Emir of Bukhara, have also been recognized by UNESCO. Bilateral Talks and Strengthened Economic Ties During his meeting with President Macron at the Élysée Palace, Mirziyoyev discussed ways to enhance Uzbek-French relations. Both leaders noted that agreements made during their 2023 meeting in Samarkand were already being implemented. Trade between the two nations has grown significantly, surpassing €1 billion last year. The number of joint ventures has quadrupled, with French businesses increasing their presence in Uzbekistan. A series of business forums and cultural events were held in Paris, Toulouse, Lyon, and Nice, covering key areas such as medicine, science, and education. Notably, a bust of Abu Rayhan Beruni, the renowned Uzbek scholar, was unveiled in the French town of Grez-Armainville. €6.5 Billion Innovation and Industrial Partnership One of the most significant outcomes of the visit was the launch of a new Innovation and Industrial Partnership Program, which includes €6.5 billion worth of joint projects in energy, infrastructure, mining, and transport. With this, the total value of Uzbek-French projects now exceeds €12 billion. In education, an agreement was signed to establish the Uzbek-French University in Tashkent, with experienced French specialists expected to teach there. Additionally, cooperation will continue in training French language teachers in Uzbekistan. To further boost business, tourism, and cultural exchanges, both sides discussed increasing the number of direct flights between Uzbekistan and France. Signed Agreements and Strategic Partnership Following the talks, Mirziyoyev and Macron adopted a joint declaration on the establishment of a strategic partnership. Key agreements signed include: An intergovernmental agreement on the establishment of the Uzbek-French University A mutual visa exemption for diplomatic passport holders A cooperation program for investment and innovation covering €6.5 billion in projects Agreements on healthcare, music, cinema, and theater collaboration A protocol to strengthen French language education A partnership agreement between the cities of Tashkent and Paris