Closure of Usmanov's Case: A Legal Resolution in Bavaria

German prosecutors have closed an investigation into Russian-Uzbek billionaire Alisher Usmanov regarding foreign trade law violations and sanction compliance. Usmanov's lawyers confirmed no wrongdoing and agreed to a financial settlement, but emphasized it was not a fine. The resolution highlights ongoing legal and geopolitical tensions involving sanctioned individuals.

German prosecutors have concluded an investigation into Alisher Usmanov, a Russian-Uzbek billionaire, accused of breaching foreign trade laws tied to EU sanctions, his legal team announced on Tuesday.

The probe centered on a purported €1.5 million payment for security services related to properties in Bavaria, as well as non-compliance with EU sanctions over undeclared luxury items. Prosecutors, however, determined that Usmanov did not own or control the implicated properties.

To resolve the case, Usmanov has agreed to make a €10 million charitable and governmental contribution. This decision, coordinated with prosecutors, follows a similar settlement in a previous money laundering inquiry against him.

(With inputs from agencies.)