A Definitive Ruling on Usmanov’s Alleged Ties to Putin
As reported by FinCrime Observer, the Russian-Uzbek billionaire Alisher Usmanov secured an interesting court victory against Forbes magazine. The Hamburg District Court has issued a ruling that significantly impacts the narrative around his connections with Russian President Vladimir Putin. This decision follows a contentious lawsuit filed by Usmanov Forbes, challenging claims made in a February 2022 article.
The Forbes Article and EU Sanctions
In an article published in February 2022, Forbes, drawing on statements from an unnamed expert, alleged that Usmanov “fronted for Putin and solved his business problems.” These claims, prominently featured in an article focusing on Russian oligarchs and potential sanctions, were later cited by the European Council when imposing war-related sanctions on Usmanov. These sanctions included a travel ban and an asset freeze, as part of the broader response to the 2022 Russian military actions in Ukraine.
Usmanov’s Legal Challenge
In February 2023, Usmanov took legal action against Forbes, bringing the matter before Hamburg’s District Court. The billionaire, whose net worth is estimated by Forbes at $14.4 billion, has been a significant figure on the sanctions lists of multiple countries, including the EU, the USA, and Australia, primarily due to his involvement in the Russian technology sector.
Court’s Findings and Forbes’ Obligations
The court’s ruling, as reported, has compelled Forbes to retract specific claims about Usmanov. These include assertions that Usmanov resolved business issues for Putin and that he purchased shares in a telecommunications company from a minister overseeing the industry. Additionally, the magazine is now barred from spreading information about Usmanov owning properties in Munich, Monaco, and Sardinia. The court found no factual basis to support the depiction of Usmanov as Putin’s “front man” or his involvement in solving Putin’s business issues.
Fake News and Sanctions
Usmanov’s attorney, Joachim Nikolaus Steinhofel, has sharply criticized the EU sanctions, which were partly based on the Forbes article, labeling them a “complete institutional failure” and equating them to a “witch-hunt against Usmanov.” Steinhofel’s commentary on X (formerly Twitter) underscored his view that the EU Council’s sanctions were grounded in misinformation. It would now be clear that the EU Council is justifying sanctions with fake news, the dissemination of which has now been prohibited by the courts, he said.
Despite the court’s ruling, the Forbes article detailing Usmanov’s supposed ties to Putin – titled “Meet Putin’s Oligarchs Most Likely to Get Slapped With Sanctions by Biden Over Ukraine” – was still accessible as of the latest reports. This ongoing availability raises questions about the broader impact and enforcement of the court’s decision.
A Noteworthy Legal Success
This development represents a significant legal success for Usmanov in his efforts to clear his name and challenge the narrative about his relationship with the Russian President. It underscores the complex interplay between media reporting, legal systems, and international sanctions in the high-stakes world of geopolitical finance.
