German Prosecutors Drop Investigation on Russian Oligarch After Settlement

German prosecutors have ended an investigation into Russian oligarch Alisher Usmanov over sanctions breaches. Usmanov, an ally of President Putin, agreed to pay €10 million. The investigation linked to EU sanctions included police raids in Germany related to his assets. Usmanov's defense contested the allegations.

German prosecutors have decided to terminate their investigation into Alisher Usmanov, a Russian oligarch closely associated with President Vladimir Putin, after his agreement to pay €10 million to authorities to settle the matter.

The Uzbek-born billionaire and prominent figure in the metals industry, who also serves as president of the International Fencing Federation, faced EU sanctions following Russia's invasion of Ukraine in 2022.

The investigation included police raids on multiple German properties linked to Usmanov. Despite allegations of money laundering and undeclared valuables, the case will close as per German criminal law. The €10 million will support the state treasury, a Bavarian victim support foundation, and a prisoner welfare association.

(With inputs from agencies.)