Post by : Saif Rahman

A German inquiry concerning potential foreign trade law breaches involving Russian-Uzbek billionaire Alisher Usmanov has concluded, as stated by his legal representatives in Germany. The case has garnered notice due to Usmanov’s status as an individual under EU and U.S. sanctions linked to the Ukraine conflict.

The investigation scrutinized claims that approximately 1.5 million euros were expended on security services at two residences located in Rottach-Egern, Bavaria, during the period of April to September 2022. Additionally, German authorities examined whether high-value items such as jewelry, artwork, and wine had been improperly reported to Germany’s export control agency, as mandated by EU sanctions.

Usmanov has categorically denied any misconduct. His lawyers maintain that he has no ties to the firms associated with the transactions under scrutiny. They further asserted that he does not own or manage the properties related to the security services. According to his legal team, the EU sanctions are irrelevant to the aspects being investigated in this case.

The decision to terminate the investigation was made to conserve time and resources for all parties. It was also noted that their public announcement was coordinated with German prosecutors, who were anticipated to make a further comment soon.

As part of the terms for case closure, Usmanov consented to pay 10 million euros, which will be allocated between the German state budget and charitable entities within Germany. His attorneys clarified that this payment is not penal in nature and should not be interpreted as an admission of guilt.

Usmanov, founder of USM Holdings, ranks among the wealthiest individuals globally, with a net worth estimated at $18.8 billion according to the Bloomberg Billionaires Index. He has faced EU and U.S. sanctions and a travel ban since the conflict in Ukraine began, complicating his ability to travel and conduct business internationally.

This case signifies another instance where a matter involving Usmanov has been resolved under similar conditions. In November 2024, German authorities dropped a separate money laundering case against him following a similar financial arrangement.

The conclusion of the latest inquiry may lighten some legal burdens on Usmanov, yet his overall situation remains complicated due to ongoing sanctions. For now, his legal representatives state that the German matter is resolved, marking the end of yet another chapter of legal challenges he faces in Europe. European stock markets remained stable on Tuesday, holding close to record highs as investor activity dipped in the year's remaining days. Following robust gains throughout 2025, many traders opted to exercise caution ahead of the New Year’s festivities.

The pan-European STOXX 600 index saw a modest increase in early trading, climbing 0.08% to nearly 589.69 points, keeping in line with its historical peak. The index is poised to wrap up the month, quarter, and year with notable gains, reflecting a solid performance from European firms throughout 2025.

The major markets in the region exhibited little fluctuation. The UK's FTSE index inched up by around 0.1%, while France's primary stock index experienced a slight dip of 0.1%. These minimal changes underscored the restrained atmosphere in markets, as many investors began their holiday break.

In sector performance, basic resources saw the strongest growth, with shares climbing over 1% as silver and gold prices stabilized after recent highs. Banking stocks also fared well, gaining approximately 0.7%, bolstered by anticipations of stable interest rates and robust financial standings. The aerospace and defense sector recorded slight gains as well.

Conversely, healthcare and consumer-related stocks slightly pulled back on the market, registering small declines as investors showed diminished interest in these defensive and discretionary sectors during this slow trading period.

Market activity is expected to stay subdued as the New Year approaches, with fewer traders active and limited news causing unlikely sharp price movements. Even small trades might lead to short-term fluctuations, but the overall market direction is likely to remain muted.

Investors are currently focused on global indicators, particularly from the U.S. Later in the day, minutes from the Federal Reserve's December meeting are set to be released, likely providing insights into future interest rates and the Fed's perspective on inflation and economic growth.

As 2025 nears its conclusion, European markets look to finish the year on a stable note. While caution prevails in these final trading sessions, the broader picture reflects a confidence built on months of consistent gains and an improving economic outlook across the region.

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