German Authorities Conclude Investigation into Alisher Usmanov

The inquiry into alleged breaches of foreign trade laws by billionaire Alisher Usmanov has officially ended, as confirmed by his legal representatives in Germany. The investigation gained prominence due to Usmanov's status under EU and U.S. sanctions, stemming from the Ukraine conflict.

The focus of the investigation was on whether approximately 1.5 million euros were improperly spent on security services at Usmanov's properties in Rottach-Egern, Bavaria, from April to September 2022. Authorities were also scrutinizing whether luxury goods, including jewelry, fine art, and wines, had been accurately declared to Germany's export control authority, in line with EU sanctions stipulations.

Usmanov has denied all allegations of misconduct. His attorneys asserted he has no ties to the firms implicated in the payments under examination, also clarifying that he does not own or manage the residences associated with the security arrangements. They emphasized that EU sanctions are irrelevant to the specific issues in this investigation.

The decision to terminate the inquiry was taken to conserve time and resources for all stakeholders. The lawyers indicated that their public announcement had been synchronized with German prosecutors, who are expected to provide further commentary on the situation soon.

As part of the resolution, Usmanov has consented to pay 10 million euros, which will be allocated between the German government and charities within Germany. His legal team has clarified that this payment should not be construed as a penalty or an acknowledgment of guilt.

A billionaire businessman and founder of USM Holdings, Usmanov possesses an estimated wealth of $18.8 billion, per the Bloomberg Billionaires Index. He has faced EU and U.S. sanctions, along with travel restrictions since the onset of the Ukraine conflict, impacting his international business dealings.

This incident marks the second occasion that Usmanov has seen a case dismissed under similar conditions. In November 2024, prosecutors also concluded a money laundering inquiry against him, following a financial settlement.

The conclusion of this latest investigation may relieve some legal burdens on Usmanov; however, ongoing international sanctions complicate his broader circumstances. For now, his legal representatives indicate that the German proceedings are resolved, concluding a significant chapter in the billionaire’s ongoing legal saga in Europe.