German Investigation Into Billionaire Alisher Usmanov Closed, Lawyers Say

Post by : Saif Nasser

A German investigation into alleged foreign trade law violations by Russian-Uzbek billionaire Alisher Usmanov has been closed, according to a statement released by his lawyers in Germany. The case had drawn attention because Usmanov is under European Union and United States sanctions linked to the war in Ukraine.

The probe focused on claims that around 1.5 million euros were paid for security services at two homes in the Bavarian lakeside town of Rottach-Egern between April and September 2022. German prosecutors were also examining whether luxury items such as jewellery, artwork, and wine had not been properly declared to Germany’s export control office, as required under EU sanctions rules.

Usmanov has strongly denied any wrongdoing. His legal team said he had no connection to the companies that made the payments under investigation. They also stated that he did not own or control the properties linked to the security services. According to the lawyers, EU sanctions were not directly relevant to the specific issues being examined in this case.

The lawyers said the decision to close the investigation was made to save time and resources for all parties involved. They added that their public statement was coordinated with German prosecutors, who were expected to issue their own comment on the matter later.

As part of the arrangement to close the case, Usmanov agreed to pay 10 million euros. This amount will be split between the German state budget and charitable organizations in Germany. His lawyers stressed that this payment is not a fine and should not be seen as a punishment or an admission of guilt.

Usmanov, who founded USM Holdings, is one of the wealthiest businessmen with an estimated net worth of $18.8 billion, according to the Bloomberg Billionaires Index. He has been subject to EU and U.S. sanctions and a travel ban since the early stages of the conflict in Ukraine. These measures have limited his ability to travel and conduct business in many countries.

This is not the first time a case involving Usmanov has been closed under similar terms. In November 2024, German prosecutors dropped a separate money laundering investigation against him, also following an agreement that included a financial payment.

The closure of the latest probe may ease some legal pressure on Usmanov, but his broader situation remains complex due to ongoing international sanctions. For now, his lawyers say the German matter is settled, bringing an end to another chapter in a series of legal challenges faced by the billionaire in Europe.