“Black market” currency dealers could be imprisoned up to 7 years

President Shavkat Mirziyoyev signed the law “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in connection with the improvement of mechanisms to combat economic crime and the financing of the proliferation of weapons of mass destruction”.

In accordance with the document, relevant amendments have been made to the Code of the Republic of Uzbekistan on Administrative Responsibility and the Criminal Code.

Now, the illegal acquisition or sale by citizens of currency valuables entails an administrative arrest of fifteen days or a fine in the amount of twenty minimum monthly wages (previously from three to five minimum wages), and individuals against whom administrative code cannot be applied in accordance with this legislation will have to face confiscation of their currency valuables.

At the same time, the illegal acquisition or sale by citizens of currency valuables, committed in a significant amount after applying administrative penalties for the same actions, is punished with a fine of 75 to 100 minimum monthly wages (previously up to 75 MMW) or with a correctional labor from 2 to 3 years or by restriction of freedom up to one year or imprisonment up to one year (previously compulsory community service for up to 360 hours or correctional work up to 3 years).

The same actions committed on a large scale or by an organized group or in its interests are punished with imprisonment from 5 to 7 years (previously a fine of 200 to 500 minimum monthly wages or restriction of freedom from 1 to 3 years or imprisonment up to 3 years).

The document states that a person who voluntarily declares a crime being prepared or committed and actively promotes its disclosure will be exempt from liability.