German prosecutors drop Alisher investigation for $11M

German prosecutors say they will drop an investigation of Russian oligarch Alisher Usmanov, a close ally of President Vladimir Putin, over possible breaches of sanctions and money laundering rules after he agreed to pay a 10 million euro (about $11.8 million) fine. The Uzbekistan-born Russian billionaire and metals magnate, who was reelected as the president of the International Fencing Federation last year, has been facing European Union sanctions imposed after Russia’s full-scale invasion of Ukraine in 2022. The Munich prosecutors office said Tuesday the probe of Usmanov, which prompted police raids of dozens of properties in Germany linked to him three years ago, will be dropped upon receipt of payment of the fine.