A Russian billionaire says he has reached a settlement with his ex-wife after she was given a divorce payout of about £450 million by a London High Court judge.

Tatiana Akhmedova, who is from Russia but lives in London, was awarded a 41.5 per cent share of ex-husband Farkhad Akhmedov’s £1 billion-plus fortune by Mr Justice Haddon-Cave in late 2016.

Mr Akhmedov did not pay and Ms Akhmedov took legal action in Britain and abroad in a bid to trace and seize assets.

Earlier this year, another London High Court judge concluded that Ms Akhmedova had been a victim of a "series of schemes" designed to put "every penny" beyond her reach.

Mrs Justice Gwynneth Knowles, who has overseen recent litigation, concluded that her ex-husband and eldest son, Temur Akhmedov, had worked against her together.

A spokesman for Mr Akhmedov said on Friday that a settlement had been reached.

He said Ms Akhmedova had "accepted a cash and art settlement".

A spokesman for Ms Akhmedova was not available for comment.

But Burford Capital, a company which has provided financial backing to Ms Akhmedova, said it had "now received its full cash entitlement" in respect of the "Akhmedov matter".

Mr Akhmedov had said that, because he and his ex-wife are not British and were not married in Britain, a British judge should not have made a decision about money.