Labour MP Chris Bryant apologises in court after businessman's libel claim.
A statement read out in the High Court in London confirmed his allegations against businessman Christopher Chandler had "been disproved".
The former minister has also paid £1,000 to a Ukraine support fund.
Mr Chandler helps to fund the Legatum Institute, a pro-Brexit think tank.
The court heard that "serious" allegations were made in May 2018 during a Commons debate on the Sanctions and Anti-Money Laundering Bill. Some MPs claimed Mr Chandler was suspected of money laundering and being a Russian spy.
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