Post by : Saif Rahman

Alisher Usmanov, the Russian-Uzbek billionaire, has had a German investigation into foreign trade law violations officially closed, as reported by his legal team. This case garnered significant interest due to Usmanov's status under sanctions from both the European Union and the United States amid the ongoing conflict in Ukraine.

The investigation examined claims that approximately 1.5 million euros had been spent on security services for two properties in Rottach-Egern, Bavaria, during the period from April to September 2022. Authorities were also scrutinizing whether luxury items like jewellery, art, and wine were accurately declared, in compliance with EU sanctions regulations.

Usmanov has consistently refuted any allegations of misconduct. His legal advisors emphasized that he had no involvement with the firms responsible for the disputed payments and that he neither owned nor controlled the residences associated with those security services. They further argued that the EU sanctions were not pertinent to the facts at hand in this inquiry.

To optimize resource allocation for all parties, the lawyers stated that the closure of the investigation was a mutually agreed decision. They indicated that this statement was coordinated with the German prosecutors, who are expected to release their remarks shortly.

As part of the resolution, Usmanov agreed to a payment of 10 million euros, which will be divided between state funds and charitable initiatives in Germany. His legal team noted that this payment should not be interpreted as a penalty or an admission of guilt.

Founder of USM Holdings, Usmanov has an estimated wealth of $18.8 billion, according to the Bloomberg Billionaires Index. He has faced EU and U.S. sanctions and a travel ban since the early stages of the Ukraine crisis, complicating his international mobility and business operations.

This is not the first instance where an investigation concerning Usmanov has concluded under similar terms. Previously, in November 2024, a separate money laundering case against him was dismissed by German authorities, again following a financial settlement.

Although the closure of this latest investigation may relieve some legal burdens for Usmanov, the broader implications of international sanctions remain complex. For now, his legal representation asserts that the German situation is resolved, marking the end of another legal chapter for the billionaire in Europe.

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