Gafur Rakhimov, who is accused of being one of Uzbekistan’s “leading criminals” with “links to the heroin trade” by the US Treasury, has offered to step aside as the head of amateur boxing amid an investigation by the International Olympic Committee.

Rakhimov’s offer to allow an interim president to take over, for a period believed to be a year, comes as the IOC investigates governance and financial mismanagement at the International Boxing Association (Aiba). Many believe it could lead to Aiba being stripped of the right to organise the boxing tournament at Tokyo 2020.

The Uzbek, who insists the US Treasury is wrong to brand him a criminal, said he “truly believed” that his work since taking charge of Aiba last year had “revitalised and energised” the organisation. He conceded that “despite these efforts, there have been many discussions these last few months about the future of Olympic boxing”.

An IOC spokesperson said Rakhimov’s offer would not change anything. “This makes no difference to the IOC’s inquiry whatsoever,” he added. “It is not just about one individual.”