Bangladesh, Dec. 31 -- German prosecutors are set to terminate an investigation into Russian billionaire Alisher Usmanov after he agreed to make payments totaling approximately €10 million to the German public treasury and charitable organizations, marking a significant development in one of Europes most closely watched sanctions-related cases since the outbreak of the war in Ukraine.

Usmanov, a prominent oligarch who has long been regarded by Western authorities as part of Russias economic elite, confirmed through his representatives that he had paid €8.5 million to Germanys public treasury and pledged an additional €1.5 million to German charities. Once the funds are fully transferred, prosecutors will formally close ...