Russian Billionaire Usmanov Settles German Sanction-Evasion Case

Russian billionaire Alisher Usmanov has settled a probe by German authorities linked to alleged sanctions evasion in 2022.

Munich prosecutors agreed to drop an investigation into Usmanov over suspected breaches of Germany’s Foreign Trade and Payments Act in connection with sanctions regulations, according to a Tuesday statement from his lawyers and a separate statement issued by prosecutors in the Bavarian capital.

Usmanov agreed to pay a total of €10 million ($11.8 million) to a public treasury and a charity as part of the settlement, without admitting any wrongdoing, according to the statements. The payment does not represent a fine or ...