Germany and Usmanov Settle Trade Law Case with €10M Payment

Germany reached an agreement with billionaire Alisher Usmanov to close investigations into alleged foreign trade law violations, contingent on a €10 million payment. The investigation involved alleged payments for security and failure to declare assets under EU sanctions. Usmanov denied wrongdoing, claiming the settlement was not punitive.

Germany has finalized an agreement with billionaire Alisher Usmanov to cease investigations into alleged violations of foreign trade laws. This agreement hinges on Usmanov's payment of €10 million, as confirmed by German prosecutors and Usmanov's legal team on Tuesday.

The investigation focused on a reported payment of €1.5 million for security services at two properties in Bavaria last year. Authorities alleged that Usmanov did not declare valuable items such as jewelry, artwork, and wine to Germany's export control office, violating EU sanctions rules. While Usmanov denied the allegations, agreeing to the monetary settlement ensures the cessation of legal proceedings.

Prosecutors in Munich stated that after payment, no further investigations would be pursued on the same matter. A significant portion of the funds will benefit Bavaria's treasury, with a fraction allocated to a state's prisoner welfare association. Usmanov's lawyers emphasized that the payment was strategic to conserve time and resources.